Qualcomm has just officially unveiled the Snapdragon 821 on Monday, July 11, and multiple rumors have already suggested that Google's upcoming Nexus 2016 and Samsung's Galaxy Note 7 phones will use the new chipset.

According to Know Your Mobile, the new Snapdragon 821 chipset features a faster KRYO CPU working at a 2.4 GHz clock speed. Qualcomm has added additional performance through the chipset's architecture.

Android Police reports that the chipset is internally known within the Qualcomm company by its model designation MSM8996 Pro. Rather than seeking to introduce new technologies, with the Snapdragon 821 release the company focused on overall performance and efficiency.

Qualcomm states on its press release that the 821 Snapdragon processor is designed to deliver greater application performance, improved power savings and faster processing speeds. The company aims to ensure that the devices powered by the new 821 chipset will keep pace with the growing performance demands of users.

While the Snapdragon 810 was octa-core, based on the ARM Cortex-A57 and A53, the the 821 is a quad-core chip based on the custom Kryo cores. With the Qualcomm Kryo quad-core CPU working at 2.4 GHz, the Snapdragon 821 is able to deliver a 10 percent performance increase over the 820.

The four Kryo cores can offer better performance without the downside of dealing with as much heat. According to the manufacturer, the 821 is designed to complement the competitive strengths of the Snapdragon 800 lineup, rather than replace the Snapdragon 820 model.

Qualcomm has confirmed that the Snapdragon 821 chipset would ship in the second half of 2016. There has been growing speculation about which Android phones will be among the first to feature the new chipset.

Based on multiple reports, tech analysts believe that it is extremely likely that the Snapdragon 821 will power both of Google's upcoming Nexus phones, Marlin and Sailfish. The chipset will likely be also used to power Samsung's upcoming Galaxy Note 7.