Android TV box KIII or simply referred to as K3 has received a new official firmware update that adds new features and enhancements over the outgoing firmware. Flashing a new firmware also does hard reset or factory reset allowing you to start afresh.
Flashing new firmware onto the Android KIII will also allow you to get rid of the bugs that might be bugging you. You can download the official firmware for the Android K3 box from here.
After downloading it to your computer, you will have to download boot card maker fro here. Download and start it on your computer and choose u-boot.bin and click on Make button. Then copy all the firmware files to the micro SD card. Plug that micro SD card into KIII android TV box (which is switched off) and press the recovery button.
If everything goes fine, a percentage meter will appear on the screen and it will take few minutes for the percentage meter to reach 100 %. It will reboot with new firmware.