Nvidia's has just reported a relatively qood quarter with $1.07 billion revenue and $217 million net income. Nvidia calls it differently but for the rest of the world this is Q3 2011.

CEO Jensen Huang was present at the conference call and he talked about a few interesting things, including Tegra 3. He said that Tegra 3 has more design wins than Tegra 2 in both mobiles and tablets. In the conference call, Nvidia said that Tegra 2 found its place in 23 tablets and 13 phones, where three of them started shipping this quarter.

Tegra 3 phones are promised in early 2012, nothing precise than that and Asus Transformer Prime as a first tablet should start shipping in a “few weeks”. Tegra 3 uses less power for everyday functions, Nvidia claims but as you can imagine it is more expensive than a traditional dual-core chip.

Right now it looks like OMAP 4 has its momentum as Texas Instruments made it into two key affordable tablets Kindle Fire and Nook Tablet, as well as a few latest Motorola phones and Xoom 2 tablet. With Tegra 3, Nvidia should follow a positive trend with a good chance of becoming a more important player in this increasing lucrative market.

Nvidia promises one new chip a year, a roadmap pace that Qualcomm, TI and other key players will struggle to keep up with.