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Does that netbook need better performance? Intel today announced two new versions of its Atom processors that have powered for smartphones, portable computers, netbooks and mobile internet devices (MIDs). The Z550 and Z515 are both designed to deliver better performance than what’s currently available on the market.

Intel says these new processors will serve the MID market for "pocketable" portable computers that can be as mobile as the people who use them. According to Intel the Atom Z550 processor extends the performance of portable computers to 2GHz with Intel Hyperthreading technology, which Intel says is the highest performance processor in the under-3-watt power envelope.  Intel’s Atom Z515 processor leverages the Intel Burst Performance Technology, enabling the processor to run at 1.2 GHz when the performance is needed.

Intel’s Anand Chandrasekher, senior vice president and general manager of the Ultra Mobility Group, made the announcements at the Intel Developers Forum in Beijing today during a keynote address.

Chandrasekhar also demonstrated Intel’s next-generation Atom platform, codenamed “Moorestown,” showcasing its greater than 10x idle power reduction compared to today’s Atom-based platform.  Intel says the Moorestown platform is due by 2010 and consists of a System on Chip (SOC) codenamed “Lincoroft” that integrates the company’s 45nm Atom processor core, graphics, video and memory controller and a companion input/output (I/O hub) codenamed “Langwell”

Intel says the platform will be accompanied by a new Moblin software version that optimizes the PC-like Internet experience together with mobile phone capabilities.

Intel’s Atom processor faces an uphill battle in the smartphone market against processor designs from ARM Holdings which have enjoyed the dominant position for years.