A new report has revealed that graphic chipmaker Nvidia has introduced dual-core phones and is aiming to compete iPhone 4S. It is being said that the phones are comparatively cheaper than Apple smartphones, and are being expected to raise sales of the company.

It has been found by the report that pegged at around RMB1,000, the dual-core smartphone recently introduced by Nvidia is almost 75% less expensive as compared to the price of iPhone 4S by Apple, which is pegged at around RMB 4,988 in China.

Nvidia has reported today that it has earned a fourth-quarter net income of $116 million this year, against $172 million in the previous year. This has shown a significant increase in the income of the company, i. e. up to $953 million, beating the estimates by analysts that were almost 19% shares.

The company has explained the features of the new smartphone launched by it. It told the reporters that 1,000 RMB phone would be working on dual-core Tegra 2 processor of Nvidia. Also, it has been affirmed further by Jen-Hsun Huang, who is the Chief Executive Officer of Nvidia, that the phone would have a 3G modem.

It has also been revealed by the company’s CEO that the LTE chip that to be inserted in the phone is a competitor of Qualcomm. He avowed that they would bring forth an integrated chip later this year, which would be a combination of Nvidia Tegra processor and an LTE modem.

“That's a pretty exciting opportunity for us. And we're just about to enter into that market”, Jen-Hsun Huang added. They are now in a hunt for fruitful results.