The OnePlus 3 is official after its space station launch – in virtual reality – and the Chinese firm has dialed up its formula for 2016 to give the big boys something to worry about again.

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It offers a 5.5-inch full HD AMOLED display, Snapdragon 820 processor, a massive 6GB of RAM, 16MP rear camera, 8MP front snapper, fingerprint scanner, 3,000mAh battery with fast charging and an all-new full metal body.

And the price? Just US$399 (£309, around AU$550) – making it almost half the price of the handsets it’s attempting to compete against, the likes of theSamsung Galaxy S7, HTC 10, iPhone 6S and LG G5. It is a touch more expensive than the OnePlus 2, but given the improved design it’s not a huge surprise.

At 5.5 inches, the OnePlus 3 is one of the bigger phones on the market too, with no smaller variant (like the S7, S7 Edge and iPhone 6S, 6S Plus) to suit those with smaller palms and pockets.

While previous OnePlus flagships have come in two storage variants, the OnePlus 3 is available in 64GB only – and there’s no microSD slot either.

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