The Chinese telecommunications and systems company, ZTE, recently unveiled its next version of the smartphone, Axon 7. The reports suggest that the new device is the only smartphone available currently, which consists of the unlocked Snapdragon 820 chipset and that too below the price range of $500. The ZTE Axon 7 is reported to be an excellent smartphone with exceptional features.

The Verge reported that the latest ZTE Axon 7 is also the first official device to feature the upcoming Google's Daydream VR platform, which is due to be launched later this year. The reports suggest that ZTE's new device has been manufactured with the virtual reality compatibility feature.

Further, there are reports that Axon 7 also consists of a big fingerprint sensor on the back and a much slimmer design as compared to its predecessor. ZTE's latest smartphone is also reported to feature a 5.5-inch screen with AMOLED display and Gorilla Glass 4, reported NDTV.

Besides, the new ZTE Axon 7 also consists of 20-MP shooter camera with 8-MP front-facing camera and dual stereo speakers. The reports also revealed that the new smartphone device features a sealed-in 3140 mAh battery and 4GB RAM with provision for 64 GB internal storage.

Also, BGR reported that the new ZTE Axon 7 would be available in gold and gray colors with extendable SIM-card slots. These slots are reported to allow the smartphone user to insert two SIMs or a single SIM and a Micro SD card. It is also reported that the new Axon 7 features Android 6.0.1 Marshmellow, but is subject to the availability of the upcoming Android N OS after its release.

In addition to all the specs and features news, few reports suggest that the new ZTE Axon 7 will create a new base for the company and thus, raise ZTE's profile in the US markets. It is also expected that the new smartphone will help the company generate more revenue from its sales this year.

Meanwhile, CNET reported that the recently launched ZTE Axon 7 will face a tough competition from the upcoming Moto Z series and OnePlus 3 smartphones, which are expected to be in a similar price range i.e. $450 or less.