Qualcomm's processor is one of the best in the market. Many device manufacturers use these processors to give some great performance. But, at the same time, there are many such as Samsung who built their own processor to improve their profit margin. Samsung tends to give some great performance through it's Exynos processors and cuts the cost as well. This helps Samsung to config their device's software with Hardware in a better way, providing some great performances.
According to several reports, Samsung is working on Exynos 992 which would give better performance than Exynos 990 and matches Qualcomm's Snapdragon 865 performance.
Samsung is planning to unveil this processor with its Note 20 Series. And going by the schedule, these two will be unveiled in August this year. The Exynos 992 onboard - an improved version of the Exynos 990 likely based on Samsung's new 6nm manufacturing process.
The Exynos 992 will also sport improved architecture, which would enable even better performance compared to the Snapdragon 865 and considerably lower power consumption.
One more reason for this development would be the launch of the next version of Qualcomm's processors which is supposed to be 865+. Samsung needs to improve its hardware to match the performance of the upcoming Qualcomm processor.