Foldable phones are all the rage right now, and one OnePlus has decided to join the competition with its latest release. The brand’s first foldable phone will launch Oct. 26, but preorders for the OnePlus Open have already begun. There are plenty of sizeable preorder deals available now and CNET readers looking to score this new foldable device can get $50 off the OnePlus Open when you preorder from OnePlus directly and use promo code CNET50 at checkout. This offer is available now through Oct. 31.

Pricing for this new foldable starts at $1,700, but OnePlus is offering $200 off preorders when you trade in any phone, which knocks the price down to $1,500 — and with this exclusive deal, you’ll get an extra $50 off, dropping the price to $1,450. And if your device is fairly new, you can sweeten the deal even further. Right now the company is offering up to $1,000 off with enhanced trade-in credit, with the latest iPhones scoring the largest discounts.    

That’s not all — OnePlus is also throwing in a pair of OnePlus Buds Pro 2 as part of its preorder deals, along with six months of 100GB Google One cloud storage and three months of YouTube Premium for new subscribers — absolutely free.  

This phone comes quipped with the Snapdragon 8 Gen 2 processor — which can also be found in its flagship OnePlus 11, which scored a spot on our roundup of the best phones to buy. It also has an impressive 16GB of RAM and 512GB of storage, a solid battery life and a 7.8-inch 2K AMOLED internal display. In terms of color variants, OnePlus lets you choose from either Emerald Dusk or Voyager Black.