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A security guard stands in front of a screen showing Xiaomi mobile phones ahead of the launching ceremony of Xiaomi Phone 4, in Beijing, July 22, 2014. Reuters/Jason Lee

Xiaomi has announced a refreshed version of its popular Mi Box 3 media player. The Mi Box 3 Enhanced Edition comes with a faster processor which is said to boost performance manifold as compared to the standard Mi Box 3.

The Enhanced Edition is equipped with a 64-bit MediaTek MT8693 with a hexa-core CPU, which enhances the gadget's performance by 80 percent in comparison with the Mi Box 3. The PowerVR GX6250 GPU also brings in a 240 percent performance improvement to its predecessor.

The Enhanced version features double the RAM and internal storage of the Mi Box 3 -- 2 GB of RAM paired with 8GB of in-built storage -- which further ensures a smoother experience for users.

The gadget has its own cooling system which automatically adjusts the speed of the fan. The Wi-Fi is now 802.11ac 2x2 and the device boosts a transfer speed of up to 300 Mbps.

The Mi Box 3 Enhanced Edition supports 4.1 Bluetooth which ensures low power consumption. There is also a Bluetooth enabled remote control which may be used to play games stored in Mi Box.

The Mi Box 3 Enhanced Edition is priced at 399 Yuan (AU$83).

Last week, Xiaomi announced its latest power bank, the Mi Powerbank Pro. It has a battery capacity of 10,000mAh. The device supports USB type C charging which can be used to charge the Xiaomi Mi5 and even a MacBook.

The Mi Powerbank Pro can also charge accessories like Xiaomi's Mi Band fitness tracker and even Bluetooth in-ear headphones.

Equipped with an 18W ultra fast charger which takes only three and half hours to fully charge the power bank, according to Xiaomi, the Mi Powerbank Pro shortens the charging time of any device by 40 percent.

The Mi Powerbank Pro is priced at 149 Yuan (AU$31).