On Monday evening police were alerted by the ambulance service that a teenage boy had been seriously injured in the Springwell Esate.
Emergency services attended the scene and located the teenager who is believed to have been stabbed.
He died in hospital in the early hours of Tuesday.
An investigation was immediately launched, and a 14-year-old boy has been arrested on suspicion of murder. He remained in police custody on Tuesday afternoon.
Chief Superintendent Helena Barron said: “A teenage boy has sadly died and his family have been left devastated beyond belief. Our thoughts are very much with his loved ones at this time and we are supporting them in every way we can.
“We are determined to find out exactly what happened and a full investigation is ongoing into the circumstances surrounding this tragic incident.
“We have arrested two teenagers in relation to the incident and officers remain in the area to carry out a range of enquiries and offer reassurance to the community.
“While incidents of this nature are rare in our region, whenever they do occur we are committed to bringing those responsible to justice.”
She added: “We would ask the public not to speculate on details of the investigation.
“What might seem like an innocent post on social media to you, could in reality disrupt an on-going investigation and cause further upset to the family of the victim.
“We would ask that if you did see something or have information in relation to what has happened, please come forward directly to officers.”