Earlier this month AMD introduced the Radeon 4600 series GPUs, effectively challenging Nvidia’s GeForce 9500 GT in the sub-$80 price bracket and, to some extent, the higher-priced GeForce 9600 GT and GSO GPUs.

But the company feels that there’s still space for another mid-range GPU – namely, one that will go against the GeForce 9800 GT – and thus is planning to release the Radeon HD 4830. The new card is expected to sit between the Radeon HD 4850 and HD 4670, sporting 640 stream processors, a 256-bit memory interface, and GDDR3 memory.

It would also feature 7.1-channel audio pass-through over HDMI, CrossFireX support and full HD video decoding. The Radeon HD 4830 should hit retail shelves on October 21 with a sub-$150 price tag.