The first Exynos 4210 chip, formerly codenamed Orion, will be in production next month, the company said in a statement. Exynos 4210 is a 1GHz dual-core application processor designed for powerful HD multimedia and long battery life in mobile devices.

The new name, which Samsung says originates from the Greek words smart (expynos) and green (prasinos), replaces the Hummingbird name Samsung had for its popular processor.

"Smart refers to high-performance aspect and Green represents low power features of Samsung’s application processors," Samsung said.

Samsung created Hummingbird in tandem with chip designer Intrinsity, which was subsequently bought by Apple. Some aspects of the Hummingbird chip are believed to have been incorporated into Apple's A4, the processor inside the iPad and iPhone 4.

Samsung manufactures the A4 for Apple.