There is a lot of excitement in the community surrounding the Lollipop updates for the One. But due to several problems of compability the release was postponed.
First, there was an unforeseen OS signing issue, which has recently been resolved. The camera module had stability issues on Lollipop, and OnePlus team had to rebuild it for compatibility. Several other crucial drivers, including our Wi-Fi drivers, also needed to be updated to work flawlessly with the upgrade. Admittedly, it took a little more time than the company had planned, but they only release updates that they are proud of; that means refusing to take shortcuts or deliver sub-par experiences.
CM 12S: The official OTA update for the OnePlus One will be released on or before March 30, 2015;
OxygenOS: The official release of our own Lollipop-based ROM will be available for download on or before March 27, 2015.
In order to show you how serious they are about this commitment to the community If they miss either one of these deadlines, OnePlus will give away five (5) 64GB OnePlus One devices to his fans. To be eligible just comment here!