Xiaomi Mi3 review, price, specs: The Xiaomi Mi3 is being touted as the iPhone-killer in China and if popularity and speed in sales is any indication, the Xiaomi Mi3 is on track to become one of the best selling handsets in the country. It sold out 100,000 units in 86 seconds when it first became available.

The newest version of the Xiaomi Mi3, which according to its manufacturer Xiaomi is updated almost every week, will be coming this December boasting a Qualcomm Snapdragon 800 processor chip set that will also have 3G WCDMA support. The Snapdragon 800 processor of the soon-to-be launched version is improved and will also allow the $330 device to be used beyond China’s 3G TD-SCDMA network.

The Xiaomi Mi3 specs which is labeled as the fastest smartphone yet from the company, has a 2GB RAM, 13-megapixel SONY camera with dual-LED module and 3050mAh battery. Phone Arena noted that the Xiaomi Mi3 is also one of the very first smartphones to incorporate the new Wi-Fi 802.11ac standard which runs on the less busy 5GHz band. The gadget review and news site said that because of this, Mi3 provides higher speeds than the conventional smartphone.

Since Xiaomi is only available in China, Hong Kong, and Taiwan, the device can only be obtained via resellers. Earlier, an eBay seller claiming a WCDMA version of the device has sold the phone for an excessive price, only for it to come out as fake since the company has yet to release such version.

Xiaomi is being billed as the Apple of China, with its innovative offerings and products with premium designs. According to Phone Arena, the Mi line of Xiaomi phones has become synonymous with high performance devices, but for an affordable price. Last August, IDG News Service reported that Apple was overtaken by Xiaomi in smartphone rankings based on a study by research firm Canalys. The Chinese tech giant aims to sell 15 million phones by the end of 2013.