All-inorganic trihalide perovskite nanocrystals (NCs) are emerging as a new class of superstar semiconductors with excellent optoelectronic properties and great potential for a broad range of applications in lighting, lasing, photon detection, and photovoltaics. This article provides an up-to-date review on the developments of fully-inorganic trihalide perovskite NCs by emphasizing their controllable solution fabrication strategies, structural phase transformation, tunable optoelectronic properties, stability, as well as their photovoltaic and optoelectronic applications. Among the properties to be surveyed, particular focus is on the size-, shape-, and composition-dependent photoluminescence properties. Finally, by identifying new challenges, suggestions are provided for further research and potential development of this area.