To be fair, Edison isn't a processor; it's actually a full computer packed into the footprint of an SD card. The Edison offers full Linux support (or in the case of wearables, that should probably read Android support), and offers a dual-core x86 processor, built-in Wi-Fi, Bluetooth LE, and an on-board microcontroller to process I/O in real-time. Interestingly, the device also has the capability of connecting to an Intel app store.
The tiny microcomputer is based on Intel's Quark family of chips, which it first announced back in September. The selling point of Quark is to be one-fifth the size of the smallest Atom processor, and use one-tenth of the power. That's an impressive comparison within the Intel world, but ARM processors have been occupying that space for a while now as proven by the chips you'll find in the first generation of smartwatches already on the market.
Intel still has a way to go to be a real competitor to ARM in the mobile space, but obviously the company doesn't plan on quitting.
source: Intel via ReadWriteWeb