Richard Yu, CEO of Huawei's Consumer Business Group, told the audience at the 2017 China Internet Conference the new processor will be released in the second half of the year.

Huawei wants to compete with Google and Apple in the new sector of AI application processors.

The outfit is working on the Kirin 970 chipset that's expected to be packed inside the upcoming Huawei Mate 10. The chip will be based on financial security requirements, as Huawei plans to add support for credit transfers among banks, Yu added.

According to Yu, future Huawei smartphones will come with pre-installed security chip, which will allow owners to use them as car keys for brands like Audi, BMW, and Porsche, companies with which Huawei has already inked agreements.

All this means that Huawei will be bringing in some interesting new developments which may actually disrupt the direction that things have been flowing lately.