Qualcomm introduces the Snapdragon 8S Gen 3 chip, targeting the midrange mobile market with advanced AI capabilities.

The new chip boasts support for 30 AI models and over 10 billion parameters, facilitating features like enhanced voice assistants and high-resolution 200-megapixel cameras.

Despite being a more affordable option, it offers premium functionalities such as ray tracing for gaming, previously reserved for higher-end chips.

Major OEMs including Honor, iQOO, realme, Redmi, and Xiaomi are expected to feature the chip in their 'budget flagship' devices.

Qualcomm's strategic move is aimed at equipping more affordable phones with latest tech to defy the norm of using outdated chips in less expensive models.

The first device with the Snapdragon 8S Gen 3 chip is anticipated to hit the market in March, with Qualcomm predicting strong financial performance in the second quarter.