ARM has a new 64-bit chip for the next billion smartphones

ARM released a new chip design Tuesday that should bring a burst of performance to low-cost smartphones aimed at fast-growing markets like China, India and Brazil.

Most people in rich countries who want a smartphone already have one, so growth at the high-end of the market has been cooling off. But in developing countries, demand is still heating up, and that's primarily where ARM's new chip is destined.

Called the Cortex-A35, it's the company's first chip for the low end of the smartphone market based on the ARMv8 architecture. ARMv8 is already used in high-end devices like the iPhone 6S, and it's the architecture that brought 64-bit computing to ARM SOCs (systems on chips).

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