It turns out the OnePlus 3 will have a terrific camera. The optical hardware includes a 16 MP Sony IMX298 rear sensor with OIS, phase detection AF, LED Flash and 4K capabilities. Here is an example of a picture made with this camera:
As you can see, the quality is astonishing. This camera can easily compete with this year's major flagships like Galaxy S7, LG G5 and HTC 10.