Scheduled to launch sometime in the second half of this year, the Ryzen 3 lineup will compete well against Intel's Core i3 dual-core lineup. It is still not clear if AMD will include dual-core SKUs in its Ryzen 3 lineup, but it is most likely that all will be quad-core SKUs with and without SMT-enabled. Earlier rumors also suggest that there will be a Ryzen 3 1200X SKU that should be similar but with support for XFR (eXtended Frequency Range) technology, which may give it a further overclocking boost.
According to details leaked by ASRock's support page and originally spotted by Computerbase.de, the Ryzen 3 1200 SKU works at 3.1GHz frequency (most likely 3.4GHz Turbo) and has a 65W TDP.
With prices starting at way below US $150, Ryzen 3 SKUs will have no trouble in competing with Intel's Core i3, Pentium and other entry-level SKUs.