Lenovo is getting some much-deserved attention for the slew of quality gadgets they've been churning out. Next on the list is the Lenovo Vibe X3, which was teased on the official invite of the Lenovo press event on Nov. 16.

According to a report from Times News UK, the prominent feature of the Vibe X3 on the invite seems to indicate the new smartphone will play a big part of the upcoming event.

The market, always on the lookout for feature-packed handsets, has already seen several leaks on the specs of the Vibe X3. Powered by a Snapdragon 808 chipset with two Cortex-A57 and four Cortex-A53 cores, the new smartphone will be the company's competitive product for the mid-range market. It will also feature the Android 5.1.1 Lollipop and 3GB of RAM under the hood.

The 5.5-inch display will roll out with 1080p resolution. Other features include a fingerprint sensor, 21-megapixel rear camera with a dual-LED flash, an eight-megapixel front camera and stereo speakers.

While it may headline the event, the Lenovo Vibe X3 is not the only device in the company's lineup. According to a report from Android Headlines, its sister device Vibe X3 Lite is also expected to drop soon with very similar specs including the same 5.5-inch 1080p screen.

However, the Lite edition will reportedly be powered by MediaTek MT6753T 64-bit octa-core SoC. Other details on the smartphone include 2GB of RAM, a 13-megapixel rear camera and a five-megapixel front camera.

The report from Android Headlines revealed that the Vibe X3 is rumored to cost 1,299 Yuan or $203, while the Vibe X3 Lite will debut with a price tag of 899 Yuan or $141.

Meanwhile, a report from the Wall Street Journal revealed that Lenovo recorded a quarterly net loss for the fiscal second quarter of 2015. The Chinese consumer electronics company was said to have announced a net loss of a hefty $714 million, a massive jump from its net profit of $262 million the past year.

It's a loss that Lenovo entirely expected though with the acquisition of server and smartphone units. In a phone interview with Bloomberg, chairman and chief executive officer Yang Yuanqing explained the significance of their recent moves to develop outside the PC market in China.

He said, "We significantly grew our smartphone business in the rest of the emerging markets, that's our strategy. We know our China competition is too fierce, so we just shift our focus."