The development of "OnePlus TV" comes as a "natural extension" for the company with the aim to address the gaps in the TV segment and balance high-quality minimalistic hardware with the latest technology, the company said in a statement.

"With this new division, we're excited to explore the total connected user experience that can enhance everyday life," said Lau.

"We want to bring the home environment to the next level of intelligent connectivity. To do this, we are building a new product of OnePlus' premium flagship design, image quality and audio experience to more seamlessly connect the home."

In an interview with Business Insider, Lau said OnePlus plans to release its first TV in 2019, but it will take some time to perfect. "It won't be something that's perfect and absolutely complete and revolutionary from the start," said Lau. The TV will receive updates to make it smarter over the next five years, becoming more connected to your smartphone along the way.

The "OnePlus TV" is expected to be released in 2019.

"With the development of Artificial Intelligence (AI) technology, our imagination is endless -- and we are looking forward to the future," Lau added.

It is unclear whether the TV would run on an existing platform like Android TV.