Chinese smartphone manufacturer Nubia Technology on Thursday unveiled its latest handset for gaming and Esports enthusiasts, the Red Magic 9 Pro series, as the company aims to grab a bigger slice of the mid-range to high-end mobile phone market.

Priced at 4,399 yuan ($615.7), the phone, which is only 8.9 mm thick, is powered by Qualcomm's Snapdragon 8 Gen 3 chipset and a battery with a 6500 mAh capacity. It features a 6.8-inch active-matrix organic light-emitting diode or AMOLED display that supports a 120Hz refresh rate.

According to market research firm NewZoo, global mobile gaming will generate $92.6 billion in revenue in 2023 and account for a 49 percent share of the entire gaming market. 

Data from global market research company International Data Corp showed that 67.05 million units of smartphones were shipped in China in the third quarter of 2023, down 6.3 percent year-on-year, as smartphone vendors have remained discreet before more new products were launched in the last quarter of the year.