We’ve been talking a lot about what the best high-end smartphone value of the year might be. The OnePlus 3 was unsurprisingly a strong contender, but we found ourselves frequently comparing it to the ZTE Axon 7. Well, one of the few advantages OnePlus had on ZTE just got wiped out — the Axon 7 is available for preorder today, and it’s the same exact price as the OnePlus 3.

A refresher — despite the price, the ZTE Axon 7 is a premium phone. The 5.5″ smartphone has a top-of-the-line Qualcomm Snapdragon 820 SoC, a 2560 x 1440 display, 4 GB of RAM, 64 GB of storage (with a MicroSD card slot), a 3,140 mAh battery, and a 20 MP Samsung Isocell rear camera with dual LED flash, phase detect autofocus, optical image stabilization, and an f/1.8 lens. It’s all great, and the only premium features missing are water resistance and laser autofocus. We can’t say for sure without a full review, but on paper, the Axon 7 is every bit as good as the premium phones from LG, Samung, and HTC, which are hundreds of dollars more expensive.

ZTE didn’t skimp on design, either. They enlisted Designworks, a BMW company, to create a unibody metal design with 2.5D glass — yes, just like every other premium phone, but at least the forward-firing speakers (which sound excellent) have unique grilles. There are some creative design touches around the backside fingerprint sensor, too, although there’s nothing too radically different.

Point is, nothing about this phone looks cheap on paper, but it is. The 1440p display is the big advantage over the OnePlus 3, and while we usually don’t value that too much, if we’re going to get the increased display resolution at no extra cost, it’s a no-brainer. It’s also a big part of ZTE’s VR strategy, making the Axon 7 Google Daydream ready — as great as 1080p displays can be, they do not look good when used in a VR headset. In fairness, the OnePlus 3 does have some advantages — a standard 6 GB of RAM and lighter UI tweaks — but it’s hard to say either of those are important enough to make up for what ZTE is offering. The only thing really holding ZTE back here, in general, is their penchant for not getting Android updates out quickly. If you can bear that, it sure seems like the Axon 7 is the value king this year.

The unlocked ZTE Axon 7 is available for preorder now from a handful of online retailers, including Amazon, and directly from ZTE for $400. It’ll ship on July 27, and keep in mind that it’ll come with ZTE’s terrific Passport 2.0 protection plan, which covers you in case of water damage and drops. Color options include grey and gold.