According to reports,  OnePlus Two will have 3GB of RAM  and will be priced at around USD 400.

If speculations are to be believed, the smartphone features a 5.5-inch full HD LTPS display with 2,560 X 1,440 pixels resolution and runs on Google's Android 4.4 KitKat Operating System.
 
The next generation smartphone may have a 16-megapixel camera on the rear surface with a 5-megapixel front-facing camera clubbed with 64GB internal storage.

The OnePlus Two is likely to pack a 3300mAh battery. Few days back, the company announced they are working on Oxygen OS, company's own custom OS which will feature ZERO bloatware along with that it will be akin to the Android software.