After the successful release of the OnePlus 2, Chinese mobile manufacturer OnePlus is now rumored to release a successor before the year ends.

BGR reported that the upcoming phone, expected to be called the OnePlus 3, might offer an even-better value to Android fans.

Here are some of the expected stuff surrounding the OnePlus 3:

1. More compact

Mobile Dad said that renders of the upcoming phone revealed that it will be more compact compared to the OnePlus 2. It added that the leaks of this device also showed that it will look "nothing like" its predecessor since it will have a softer design with round edges and a plastic case.

BGR added that its back part will also not be removable like that of the OnePlus 2.

2. Dual-LED flash

The new smartphone is also believed to have a dual-camera configuration and a dual-LED flash system.

"Also present on the back of the phone is a round fingerprint scanner, which appears to have been relocated since the device doesn't have a home button on the front," added BGR.

3. Low-cost phone but with great features

In an interview with USA Today, OnePlus co-founder Carl Pei explained that they are trying to come up with low-cost phones which do not sacrifice the quality of the device.

"The entire landscape was changing. eCommerce is making everything more efficient and ultimately it benefits the consumer. It cuts out the middle man and cuts out a lot of the margins. You can read media and user reviews online. Advertising is diminishing in value and the value of good products is rising because it can be discovered without a huge marketing budget," Pei said.

It's no secret that previous OnePlus handsets have all been priced relatively lower than most popular flagship smartphones, and with the OnePlus 3, reviewers can only expect the same trend.

4. Snapdragon 820 processor

Android Pit said that OnePlus fans are hoping that the new device would use the best Qualcomm chip, since older models used Snapdragon 810, a processor cited for overheating problems.

The outlet noted that using a better processor would guarantee better performance of the OnePlus 3, which will surely be sought and enjoyed by users.

5. An amazing phone

Pei also explained with USA Today that they are indeed planning to release another phone this year before Christmas.

"It may or may not be (higher spec'd than the OnePlus 2). When I saw the prototype for that phone I was like 'holy s--- that's going to be my daily driver' but then when the OnePlus 2 production version came out it's also super nice, so its really hard to decide now what to use," Pei added noting that the handset will be something "amazing."

What do you expect to see in the new OnePlus device?