ARM's new processor for mid-range mobile devices

UK-based chip designer ARM Holdings said it will defend its over 90 per cent share of the mid-range mobile device market against hard-running rival Intel Corp, helped by a new processor it unveiled on Monday.

ARM introduced the new Cortex A-12 processor optimised for smartphones that sell for between $200 and $350, a mid-range category that the Cambridge-based company said would number half a billion devices a year by 2015.