Xiaomi is consistently rising up the charts as one of the best value smartphone choices in the market. Their latest handset to make waves is the Redmi 3, posted in the forums of the company. Marked by impressive features and an affordable price tag, the new device is proving to be quite the package.

One of the biggest draw of the Xiaomi Redmi 3 is its massive 4,100 mAh battery. Despite the extra large battery, the new smartphone is slimmer than the previous model of the Redmi series by 0.9mm. It measures at 144g.

Aesthetically, the handset is a looker with a full metal body with a 5-inch display. Users can also choose from four cool design choices with the plaid pattern available in gold, dark gray and metallic colors, and a classic solid gold case for those who prefer something more traditional.

Under the hood, the Xiaomi smartphone is powered by the Qualcomm Snapdragon 616 with 2GB of RAM and 16GB of internal storage. Storage is expandable up to 128 GB. Other features include the 13MP rear snapper with ultra-fast Phase Detection Auto Focus (PDAF).

Most significantly, all these features are wrapped in a package that only costs 699 Yuan, which is equivalent to $106 or $107. It's a very affordable handset that will catch the eye of budget-conscious buyers who are looking to upgrade. However, it's only available in China so far and no confirmation has been revealed on its international release.

A report from Tech Crunch added that while the metal body and large battery of the new Redmi are impressive, the smartphone is notably missing the fingerprint scanner that was fitted into the Xiaomi Note 3.

The company is looking to find even greater success with the hotly-anticipated Xiaomi Mi 5. While there hasn't been significant details released, head of international Hugo Barra took to Twitter to express his excitement at the new product.

He tweeted, "My own Mi 5 just rolled off our production line today and... into my pocket. Qualcomm Snapdragon 820. So worth the wait."

While the Xiaomi smartphones have been performing well, the company has faced rising concern from investors after failing to hit their sales target of 80 million units, according to a report from Wall Street Journal. Among the factors in their struggles are China's own economic slowing down, a limited demographic and going up against experienced competitors.

"The competition in China's smartphone market has intensified tremendously this year," a Xiaomi representative admitted, although she declined to comment on the valuation and sales targets of the company. She added that the sales were "within expectations".