Intel detailed its upcoming smartphone chips at an investor meeting in Santa Clara, California, on Thursday. The company will release chips over the next two years based on new manufacturing processes that bring longer battery life and improve performance on smartphones.

Lava International last month started shipping the first Intel Inside smartphone, which ended years of Intel's struggles to enter the smartphone market. Intel in 2010 showed an LG smartphone based on the earlier Atom chip called Moorestown, but no smartphones with the chip were ultimately released.

Intel's major smartphone rival is ARM, whose processors ship in around 95 percent of the handsets. Intel's CEO Paul Otellini said though Intel is a new entrant in the smartphone space, it could take away market share from ARM.

Intel is taking a two-pronged approach with smartphone chip development, with one upcoming chip focusing on high-performance smartphones and the other on low-end smartphones that are inexpensive.

Intel later this year will release a high-performance Atom Z2580 smartphone chip, which will have a dual-core processor and LTE 4G capabilities. The chip will provide twice the performance of the company's current single-core Atom Z2460 chip, which is found in Xolo's X900 smartphone with 3G capabilities. Both the chips are made using the 32-nanometer process.