Lau resigned from OPPO just two months ago in November, started OnePlus in December, and is already making his first major announcement as CEO of OnePlus. The announcement itself is that OnePlus has become a hardware partner of Cyanogen, but the more interesting part of the news is regarding the first smartphone from the partnership, planned to be named the OnePlus One. The announcement says to "Keep an eye out for the OnePlus One in the first half of 2014", and OnePlus has confirmed that means it will be announced and released in the first half of 2014.
There are no hardware specs to be had on the device, but the announcement does say that Cyanogen is working on a custom version of the CyanogenMod software for the device. OnePlus CEO Pete Lau said on the matter:
We'll be sure to bring you more info as we get it.