After catching heat for a surprise price hike, OnePlus has reversed course on the OnePlus Watch 3’s U.S. launch price—and it’s offering refunds to early buyers.

In an email sent to HomeTheaterReview on April 28, OnePlus spokesperson Spencer Blank confirmed that the company has officially dropped the U.S. price of the Watch 3 to $349.99, down from the eyebrow-raising $499.99 it had been listed at just a few weeks ago. The company cited “current market conditions” as the reason for the initial bump, but said “recent adjustments in our supply chain” have allowed them to roll back the cost.

And here's the kicker: If you already paid $499.99 for the OnePlus Watch 3, you’ll get a refund for the difference, automatically issued to your original payment method. OnePlus says affected customers will be contacted directly by its customer support team.

Let’s rewind for a moment. When the Watch 3 quietly showed up on OnePlus’ U.S. site earlier this month, the $499 price caught many off guard. It was a full $170 higher than expected based on the launch in other markets and even outpaced competitors like the Apple Watch Series 9 and Galaxy Watch 6.

OnePlus didn’t offer much explanation at the time, but those who follow the industry closely pointed to new U.S. tariffs on Chinese electronics as a likely cause. Add in a botched early production run with “Meda in China” accidentally engraved on the back of the watch, and the U.S. launch was off to a rocky start.

Now, the company is trying to right the ship.

The final MSRP for the OnePlus Watch 3 in the U.S. is $349.99. OnePlus says this number is locked in and “will not be changed going forward.” For those keeping track, that’s still a $20 increase over the original Watch 2, but a far cry from the $499 price that shocked early buyers.

In its official statement, OnePlus framed the decision as part of its effort to stay “transparent” and “responsive” to the community. While the statement avoided directly referencing backlash, it’s clear the price reversal is at least partially a response to customer confusion—and criticism.

Here’s some good news if you were among the unlucky few who paid full freight: OnePlus is making it right. Anyone who bought the Watch 3 at the original $499.99 U.S. price will receive an automatic refund of the $150 difference. No need to jump through hoops or request it manually—OnePlus says its support team will reach out and handle the rest.

This kind of refund policy is rare in the world of tech launches, where price drops usually leave early adopters out in the cold. OnePlus deserves at least some credit for responding quickly and trying to make amends.

The $349.99 price puts the Watch 3 back in competitive territory. It’s now on par with the Apple Watch SE and the Samsung Galaxy Watch 7—both strong players in the Wear OS and iOS ecosystems. The Watch 3 still boasts an impressive spec sheet: a bright 1.43-inch AMOLED display, dual-frequency GPS, a rotating crown, and up to 100 hours of battery life.

If the original $499 price scared you off, you may want to give the OnePlus Watch 3 another look now that it's back down to $349.99. OnePlus seems to be learning from its missteps and is clearly listening to its user base—at least this time around.

And if you were one of the early birds who paid too much? At least you’ll get your money back without having to chase it.