Xiaomi has unveiled the Mi TV 3 as the successor to its previous launched model, which sports a 60in 4K LG display. The latest offering was released on Monday (19 October) and unlike traditional smart TVs, the Xiaomi Mi TV 3, comes in two different parts -- the display and the logic board.

The separate units, allow users to upgrade either the display panel or the logic board. It also makes the display more like a monitor than a usual LED TV.

The logic board, called the Mi TV Main Board, has three HDMI ports and two USB ports, apart from VGA, Ethernet, AV in, audio output and RF modulator. In addition, there are four built-in speakers that have been redesigned to make it 50% smaller than their previous editions. The TV connects with the logic board via a single cable to overcome cable-tangle issues.

Its logic board has the capabilities to work with any compatible display panel, projector or VR headset to deliver advanced multimedia experience. The Mi TV 3's logic board has an MStar 6A928 processor that includes a quad-core 1.4GHz Cortex-A17 CPU, Mali-T760 GPU and 2GB of DDR3 RAM.

There is 8GB on-board storage and connectivity options like Wi-Fi 802.11ac and Bluetooth 4.1. Xiaomi has also provided Android 5.1 Lollipop-based MIUI TV on the device. It is claimed to deliver "lossless" image quality, using colour gamut of NTSC 85%, and comes with MEMC motion compression.

Another significant feature of the TV is its Bluetooth voice remote control, which could give the recently launched new Apple TV and the Roku 4 tough competition. It has a six-axis sensor and works with some optimised voice features and algorithms.

Xiaomi will start selling the Mi TV 3 in China for CN¥ 4,999 (£508, $786), while the Mi TV main board will be separately available in the country for CN¥ 999. The Bluetooth voice remote control will be priced at CN¥ 99.

The Beijing-based company has not yet revealed its plans to make the new TV available in the UK. However, it is expected to go on sale in other Asian markets apart from China in the coming months.