OnePlus 3 has been announced and many may agree that the device is sure packing a punch at a very moderate price.

The offering sports a neat looking chassis that is embedded with a 5.5-inch 1080p AMOLED screen. It is powered by a Snapdragon 820 processor with 6GB RAM, as noted by Arstechnica. As for the storage onboard, the device has 64GB space and doesn’t allow for expanding the same since it arrived sans a microSD card slot.

However, the company sure has jotted down lessons from the previous offerings and this time around the OnePlus 3 is equipped with NFC. Furthermore, there is a USB Type-C port onboard as well and the back is strapped with a 16MP primary camera. Much like its predecessor, the home button doubles up as a fingerprint scanner and the design of the device is more refined, according to report on The Verge.

The smartphone is available in shades of “Graphite” and “Soft Gold” to choose from. From this year on, the new device is directly available from the company’s website since the invite system has now been thrown out.

Commenting on the invite setup, OnePlus Co-founder Carl Pei shared with The Verge, “We’re using a different approach for our third year. As a company grows, expectations change and we have to be more responsible as a company. We just couldn’t sell on an invite system at this point in the company’s history.” The device offers quick charging or “Dash” charging as the company calls it with the capability to charge up to 63 percent in half hour.

The device has everything that any tech aficionado would expect from a flagship and the pricing works as a major advantage in comparison to other devices that stand at par. There is no denying that the Samsung Galaxy S7 sports a superior design but the new OnePlus handset stacks up really well in terms of specs when compared to what many tech giants have introduced to the world this year. And the company has managed to deliver all of this at a price of US$399 (AU$540).