OnePlus is set to compete with some of the biggest smartphones today by developing a successor to OnePlus 3, which was released early this year.

According to reports, OnePlus 4 will serve as an improved version of OnePlus 3 packed with superior performance. It is seen to compete directly with the biggest smartphones in the industry, particularly the iPhone 7 and Samsung Galaxy S8.

While the Chinese smartphone manufacturer has not yet disclosed anything official about the upcoming OnePlus smartphone model, some juicy details about its pricing, release date and specs have already made the rounds online.

Know Your Mobile recently reported that OnePlus 4 will feature Qualcomm Snapdragon 830 processor, which has not ever been released on the market. According to the website, this feature alone is enough to put smartphone giants like Apple and Samsung in huge trouble.

Aside from the Snapdragon 830 processor, another interesting feature of OnePlus 4 is its 5.5-inch display with 4K resolution OLED pressure-sensitive screen. The phone will also reportedly have an option for a microSD card with 256 GB worth of storage, an 8GB RAM and a 4,000 mAh battery pack that is capable of wireless charging.

OnePlus 4 will also function on Android 7.0 Nougat, which is Google's most recent and most anticipated operating system. It will also feature a fingerprint scanner similar to that of the iPhone series. A 21-23 megapixel main camera is also one of the rumored features of the upcoming smartphone.

As mentioned, the Chinese smartphone manufacturer has not confirmed anything yet about the features of OnePlus 4. However, there are speculations that the new smartphone will be launched sometime in the second quarter of 2017 and will cost somewhere between $399 and $499.