The chip can also handle signal processing for up to 8-megapixel front and 13-megapixel back cameras, Full HD video, and a WXGA screen (1,366 x 768 resolution). Samsung was able to pack all that in by using 14-nanometer manufacturing for the first time on a budget chip. So far, that's been reserved for its higher-end processors, including the top-of-the-line Exynos 8890.

Though the latest chip isn't that interesting, performance-wise, it may have a ripple effect on the high-end market. While Exynos chips like the 8890 have similar performance to rival Snapdragon models, they have limited LTE and CDMA (3G) options. That's mainly why it still uses Qualcomm chips in US versions of its flagship Galaxy S7 and Galaxy Note 7 models. If it can squeeze more radio options into next-gen flagship processors, though, it may be able to wean itself off of its rival's tech.

In addition, Google wants $50 Android One smartphones for the developing world, but as we found out, there are a lot of compromises to building one at that price. Samsung's Exynos 7570 might not go into devices that cheap, but it shows that packing in more functionality via smaller transistors is likely the best way to build cheap phones that are still decent.