As previously rumored, Intel is officially announcing number of low-power versions of its Ivy Bridge processor line for ultrabooks and tablets. The new chip lineup will draw much less power than the current mobile processors — as low as 7 watts. That's a dramatic reduction when compared to the current 17 watt low-power chips. Intel says that the new low-power chip will enable thinner and lighter tablets and laptops with longer battery life. It also claims the range has up to five times the performance of the Nvidia's Tegra 3 (now surpassed) mobile SoC.

The company has confirmed that the chip will power Lenovo's upcoming IdeaPad Yoga 11S, but we're also expecting to see one of the chips in Microsoft's upcoming Surface Pro Windows 8 tablet, due for release at the end of this month.