What it offers?
On paper quite good performance with its tri-cluster build: 4xCortex A-73 (2.8GHz) + 4xCortex A-53 (2.2GHz) + 2xCortex A-35 (2GHz). And all of this in 10nm technology FinFET
In addition it supports camera sensors up to 40MP, 8GB RAM in LPDDR4 type, LTE CAT 12 and have build-in quad-core PowerVR 7XT graphic processor.
All of this gives us powerfull tool for VR. And first models with this SoC should be avaible in second half on next year.
Will it be more powerfull then Qualcoms chips? In terms of pure power deffinitly not but taking recent security problems of Snapdragons into account I can bet that MediaTek will use this situation.

Source: gizmochina