The Xiaomi Redmi Note 3 has officially been unveiled. Release dates in other countries are still unknown but a CNET report noted that it will be available in China this Friday, Nov. 27.

Three months after the release of the Redmi Note 2, Xiaomi launches its successor, the Note 3 with "a mid-range handset with decent specs and a staggeringly low base price," as described on Engadget.

According to the pot, the Xiaomi Note 3 price is set at $141 in US dollars or 899 Yuan, since it is going to be available in Chinese market only, at least for now. The specs of the $141 smartphone include a full-metal body with a 5.5-inch display with a 1080p screen resolution.

According to a thread posted on the official MIUI website, the Xiaomi Note 3 smartphone is powered by a Helio X10 MediaTek Flagship processor. It also has a large battery packed with 4000 mAh and offers fast-charging support, which charges the device to up to 50 percent within an hour.

There are two variants available. Tech enthusiasts can choose from the 16GB model which is paired with 2 GB RAM, the one worth $141 or 899 Yuan, or the slightly more expensive, the $172 Xiaomi Note 3 variant with 32 GB internal storage and 3 GB RAM.

As for the Xiaomi Note 3's shooting specs, the phone has 13MP rear camera and among its features is phase detection autofocus. The front camera has 5 MP lens sensor and it comes with 36 different beauty profiles.

Furthermore, this is also the company's first smartphone to feature a fingerprint sensor. It is located on the rear part of the smartphone and it allows for the device to unlock in 0.3 seconds. The fingerprint sensor is also integrated with the company's payment service called the Mi Wallet. The Xiaomi Note 3 also runs on MIUI 7 operating system.

Tech fans looking to buy a new smartphone can choose from Xiaomi Note 3's three color variants, which are gold, dark grey and silver.

Xiaomi is expected to release the smartphone in other Asian countries after the market launch of the latest device in China later this week. Make sure to check back on this site for more release details about the new Xiaomi smartphone.

To learn more about the Note 3, below is a hands-on video for the Xiaomi Note 3 originally posted on Sami Luo's Youtube account: