Chinese smartphone manufacturer Nubia Technology Co Ltd unveiled its latest gamer-focused phone, Red Magic 5S, in a bid to grab a bigger slice in the world's largest smartphone market.

The phone packs a 6.65-inch active matrix/organic light-emitting diode (AMOLED) display with a 144 hertz refresh rate and 240 Hz touch sampling rate, and comes with an upgraded multidimensional cooling system ICE 4.0 with high-efficiency centrifugal fan, transparent air duct design and liquid cooling tube.

Powered by Snapdragon 865 with GPU Boost technology for increased performance for a higher quality gaming experience, the device has a biometric in-screen fingerprint scanner, 64-megapixel Sony IMX686 main camera, and a 4,500 mAh battery with 55 watt quick charging with air-cooled turbo fast charge.

Priced from 3,799 yuan ($542), the Red Magic 5S is already available for preorders in China and will ship starting Aug 1.

According to market research firm NewZoo, mobile gaming will generate $95.4 billion in revenue in 2022 and account for almost half the entire gaming market. This will be driven predominantly by smartphones, with $79.7 billion in revenue by 2022.

Moreover, the growth in mobile game revenue will continue to outpace growth in PCs in the coming years, resulting in a shrinking PC market share toward 2022.