Tegra K1 is NVIDIA's new mobile processor and this first to implement the Kepler graphics architecture. In other words, it has all of the same graphics functionality as a desktop GPU with 364 GigaFLOPs of performance (a little faster than a GeForce 9600 GT). This is quite fast for a mobile product. For instance, that amount of graphics performance could max out Unreal Tournament 3 to 2560×1600 and run Crysis at 720p. Being Kepler, it supports OpenGL 4.4, OpenGL ES 3.1, DirectX 11 and 12, and GPU compute languages.

Xiaomi is launching their MiPad in Beijing, today, with an 8-inch 2048×1536 screen and the Tegra K1. They will be available in June (for China) starting at $240 USD for the 16GB version and going up to $270 for the 64GB version. Each version has 2GB of RAM, an 8MP rear-facing camera, and a 5MP front camera.

Now, we wait and see if any Tegra K1 devices come to North America and Europe – especially at that price point.