Samsung Galaxy Watch 4 series watches are powered by Samsung's Exynos W920 chipset. Qualcomm has been developing a new Snapdragon chipset that will compete against the W920 chipset, however, it seems as though Snapdragon may have already lost.
XDA-Developers findings show that the Snapdragon Wear 5100 could have 4 ARM Cortex-A73 CPU cores. This will put the Snapdragon in the first place. Though it seems in testing Snapdragon is using A53 cores. We don't know the fabrication process that Qualcomm will use on their new processor. However, we do know that their last chipset, the Snapdragon 4100 was 12nm. In testing the chipset has 2GB of LPDDE4X RAM, and 16GB of eMMC storage, which is the same as the Galaxy Watch 4. The Snapdragon 5100 will apparently have an ultra-low power co-processor to handle small tasks and allow the main Cortex-A53 cores to be idle more often.
As for the Galaxy Watch 4 though, it seems as though it may have won against this new chipset that will come out soon, mainly because of the fact that the Galaxy Watch 4 uses less power, and has better features because of its chipset, the Exynos W920.
The Galaxy Watch 4 has won against many new smartwatches. From storage to RAM. In the coming time, the Galaxy Watch 5 will come out. As the Galaxy Watch 4 is extremely powerful, we have high expectations for this watch that may come out soon. What we think is that the Galaxy Watch 4 will be the most powerful Wear OS watch for a bit of time. There is no real competition for it in terms of processing power. Lot's of new Wear OS watches may be built using the Snapdragon Wear 5100. Next year that is.