No, according to multiple reliable leakers the OnePlus 8 Lite isn't to be unveiled on April 14. Instead it will apparently land later, and with a different name.
Firstly, Max Weinbach stated that the OnePlus 8 Lite would actually be called the OnePlus Z, as a spiritual successor to the OnePlus X from 2015 which was a budget alternative to the OnePlus 2. This handset would likely be for fans who are put off by the fact that OnePlus phones are slowly getting more and more pricey.
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The source referred to it as "OnePlus Z" and said the hardware matched the previous OnePlus 8 Lite render. https://t.co/zB5PN9nQjWMarch 28, 2020
Oppo, a phone company owned by the same parent company as OnePlus, took a similar route in expanding its Oppo Reno series with the Oppo Reno Z, and Apple is rumored to be doing the same with the iPhone 9 for people who don't want to pay for a pricey iPhone 11.
As for the later launch, Ishan Agarwal tweeted that the OnePlus Z might come later in 2020, and that it could herald the beginning of a whole new OnePlus range.
This, presumably, would be a series distinct from the OnePlus 8T range - which we're also expecting later this year - and would be aimed at a different audience to the main devices.
Indeed! The cheaper #OnePlus phone that will be launching later this year may come under a new "OnePlus Z" Series. Let's wait and watch. #OnePlusZ https://t.co/cXJmm29mRtMarch 28, 2020
Most phone companies have multiple lines of smartphones coming out, like Samsung with its Galaxy S, Note, A, M and J phones available in some combination depending on region, so it wouldn't be surprising if OnePlus did the same.
It sounds like OnePlus could be trying to come up with a budget line to sit under its main line, like how Xiaomi has the Redmi brand to hit that market.
We'll likely find out later in the year though, with the April 14 launch dedicated to the OnePlus 8 and OnePlus 8 Pro by the sounds of it. TechRadar will be reporting on all the news from the event, as well as our analysis and opinions, so stay tuned for that.