Qualcomm recently hosted a media event in New York City this week to officially introduce the Snapdragon 820 chipset.

Based on its specs, the new processor is expected to significantly outperform its predecessor without overheating.

Even before the launch of the new chipset from the tech company, the Snapdragon 820 has been the subject of various reports for over a year now. According to the reports, the new processor model is expected to appear in various smartphones and other mobile device models that are scheduled to come out during the first half of 2016.

As detailed by Qualcomm, the Snapdragon 820 packs a 64-bit Kryo CPU and the Hexagon 680 DSP, making the processor faster and more efficient than the Snapdragon 810. In addition, the new chipset model comes with the Adreno 530 GPU. According to the company, this boosts the Snapdragon 820's graphics performance by 40 percent compared to the Adreno 430 of its predecessor.

The new processor model also supports 802.11ad Wi-Fi and can deliver up to 600Mbps of LTE speed, Engadget reported.

Qualcomm also equipped the Snapdragon 820 with an improved version of its Quick Charge feature which means users with devices running on the new processor model will spend less time charging their gadgets.

But aside from the chipset's application to mobile devices, Qualcomm noted that it designed the Snapdragon 820 with next-generation technology in mind. Specifically, Tim McDonough, the company's CMO, said that the company intends to use its latest creation on virtual reality and augmented reality devices.

"Virtual reality resets the requirements," he said in a statement according to PC Mag. "The visual quality needs to be so good that it tricks you into thinking it's real."

But, as noted by Qualcomm's VP of Corporate Development Keith Kressin, it might take a while before the public sees a VR headset running on the Snapdragon 820.

"We think we're well positioned with the best chip in the industry, but we though, that's not the right form factor, venue or time," he said. "We'd rather wait until we have something that can create the wow."

The Snapdragon 820 is expected to come out with next year's new lineup of smartphones.

Hopefully though, the new chipset will not become the center of a new set of criticism like its predecessor. Earlier this year, Qualcomm became the target of tech critics due to the overheating issues that were associated with its Snapdragon 810 processor.