The Motorola razr (2019) and the razr 5G were received quite well. They were just a bit expensive. You mainly got mid-range specifications for a high-end price. That was largely due to the flexible screen which is expensive for Lenovo to buy. That made the choice of mid-range components like the camera and processor somewhat questionable.
As mentioned, that's going to change starting with the razr 3. Because it is expected to receive a Snapdragon 8 Gen 1; the latest chipset what Qualcomm currently has to offer. XDA Developers, the source of this story, further believes that the Motorola razr 3 will be equipped with a 6.7-inch FHD display without a notch. This time, Lenovo will make use of a hole punch. The refresh rate would go up to 120Hz.
Also camera improvements
In terms of cameras, we expect a 50MP main camera and a 13MP ultra-wide-angle. The selfie camera would be a 32MP one. The device is said to run Android 12 out of the box with between 6 and 12GB of RAM memory. When it will see the light of day is unknown. Previous models were always announced at the end of the year, except for 2021; that year was skipped.