ATI, graphics product group of Advanced Micro Devices, reportedly aims to release its next-generation code-named R700-series graphics processing units (GPUs) in mid-2008. The news comes as a surprise, as earlier it was revealed that the ATI R700-series chips are only due either in late 2008 or early in 2009.

According to a news-story by Chinese news-paper Commercial Times (which article was partly translated by DigiTimes web-site), AMD’s code-named ATI RV770 GPU is due to be commercially released in late Q2 2008. Two of such chips are projected to power AMD’s new high-performance ATI R700 graphics card.

The new graphics solutions, which official name is likely to be ATI Radeon HD 4000, are expected to feature new architecture, which will be more efficient compared to current ATI R700-series.

The first ATI RV770 chips have been reportedly delivered to graphics cards makers, however, there is no information regarding performance or feature-set of the new series of graphics products. The new family of ATI’s GPUs is expected to boost competitive positions of AMD on the market and help to fight back the lost market share from Nvidia Corp.

AMD did not comment on the news-story.