The OnePlus 3 was well-received by consumers, with its killer specs and its equally formidable price. With the recent release of the iPhone 7, the rumor mill is rife with speculations that the OnePlus 3's successor, rumored to be dubbed as the OnePlus 4, will be a true-born flagship killer. 

Rumors about the OnePlus 4 have already emerged online, and if speculations prove to be accurate, OnePlus might have one formidable flagship in its hands. In fact, considering the OnePlus 4's rumored specs, its main rivals, the iPhone 7 and the upcoming Galaxy S8, might not stand a chance.

The speculated specs of the OnePlus 4 are daunting, with the smartphone rumored to be equipped with a total of 8GB RAM and a microSD slot that enables users to expand the smartphone's storage up to 256GB, according to Android Headlines.

Rumors about the device's other internals are equally intimidating, with iTech Post stating that the device is speculated to be equipped with a 23-megapixel main camera and a 16-megapixel front shooter. Apart from this, the device is also rumored to rock a Qualcomm Snapdragon 821 chip, as well as an OLED display, USB Type-C support and NFC.

Perhaps the biggest draw of the OnePlus 4, however, would be its price. Just like its last two predecessors, the well-received OnePlus 2 and the even more acclaimed OnePlus 3, speculations are high that the OnePlus 4 would be priced at the sub-$400 range. With its specs and features, a price of less than $400 would make the device a true-born flagship killer.

Industry leader Apple had already released its flagship for the next year, the rather marginally-upgraded iPhone 7. While the device does feature the best that the tech giant has to offer, the phone's raw specs, wave for the A10 Fusion processor, are pretty far behind the specifications of the OnePlus 3, much less the OnePlus 4.

The OnePlus 4 might meet its biggest challenge in the form of the Galaxy S8, which analysts believe is a device that would embody Samsung's determination to bounce back from the controversial Note 7 recall. Regardless of the S8's specs, however, the price of the device would almost certainly be far beyond that of the OnePlus 4's.