NVIDIA just announced the latest member of its Tegra 4 family of mobile processors, the Tegra 4i. The processor was formerly codenamed "Project Grey" and is half the size of Qualcomm's Snapdragon 800 chip. It's equipped with 60 graphics processing cores, a quad-core CPU clocked at 2.3GHz based on ARM's R4 Cortex A9 chip, and includes a fifth core that helps keep battery life strong.

"This brings Tegra 4 goodness to the mainstream smartphone market —  an extremely power efficient, compact, high-performance mobile processor that enables smartphone performance and capability previously available only in expensive super phones," NVIDIA told TechnoBuffalo. NVIDIA said it will also provide a "Phoenix" blueprint to smartphone and tablet makers that allows them to get "to the market quicker."

Oh, and for those worried about 4G LTE support: NVIDIA said that Tegra 4i includes a version of the company's i500 LTE modem that has been optimized for integration into the chip.