According to Qualcomm, phones running the new Snapdragon 410 processors will be available for around the $150 or less. Reuters

In a quest to take on Apple’s (NASDAQ:AAPL) move to incorporate 64-bit technology into the iPhone 5s, Qualcomm (NASDAQ: QCOM) introduced its new Snapdragon 410 chipset on Monday, which would support the same processing capability.

According to the company, the new Snapdragon 410 chip will also support 4G Long Term Evolution, or LTE, connectivity and will target the fast-growing Chinese market, where it is expected to power mid-range smartphones, starting in the second half of 2014.

The new Snapdragon 410 chipsets are manufactured using 28nm process technology, and are capable of superior graphics performance with the Adreno 306 GPU, 1080p video playback and can support up to a 13-megapixel camera, the company said.

Snapdragon 410 chipsets also feature Qualcomm Technologies' Wi-Fi, Bluetooth, FM and NFC functionality, and support all major navigation constellations: GPS, GLONASS, and China’s new BeiDou. The chipset also supports all major operating systems, including the Android, Windows Phone and Firefox operating systems.

Qualcomm also announced its intention to make 4G LTE available across all Snapdragon product tiers. According to the company, phones running the new Snapdragon 410 processors will be available for about $150 or less, or about 1,000 yuan.

In September, Apple unveiled the iPhone 5s with a 64-bit processor, which prompted many to believe that the company may merge its iOS mobile operating system with its counterpart used for the Mac laptop and desktop computers.

Samsung (KRX:005935) has also said it plans to use 64-bit processors in its smartphones, Reuters reported.