The OnePlus 7 represents the first time its maker has released more than 1 phone at a single launch event. It is effectively a 2019 refresh for the 6T. The only real differences between the 2 phones are that the 7 is powered by the Snapdragon 855 processor, rather than the 845; besides this, the 7 also features more state-of-the-art UFS 3.0 memory and a 48MP main camera.
The 7 is sold in certain markets (none of which are North American) as a slightly less expensive alternative to the premium 7 Pro. It is typically available as SKUs with either 6 or 8GB of RAM. However, OnePlus has just released a 3rd option: 7s with a top-end 12GB of RAM, as well as 256GB of internal, non-expandable storage.
Unfortunately, this SKU is currently only available on the Chinese form of OnePlus.com, or on JD. Therefore, this phone may be out of the reach of the average consumer. This new 7 costs 3499 yuan (US$508), or 500 yuan (about $72) more than the 8GB variant.
On the other hand, those who like spending money to import unusual phones may be drawn to the OnePlus 7, and not merely for its Chinese- and Indian-market exclusive red color option, as before. However, they can't hope to get the new 12GB variant in this shade: it is sold in Mirror Gray only.
Source(s)
Oneplus.com/cn