The chipset is basically a motherboard on the phone or, in other words, its mother board, which takes all the components to sit on it and connect with each other. It is made of IP and provides all communication channels (buses) for connecting, for example, cameras, Bluetooth, Wi-Fi, a touch screen with a CPU / flash memory / RAM.
The CPU is the central processor that is responsible for following the instructions of a computer program by performing basic arithmetic, logical, and input / output operations of the system.
Almost all processors on mobile devices are based on ARM specifications (Cortex A7 / A9 / A15, etc.).
In a mobile phone, the chipset and CPU combination is called SoC (system on a chip), which combines all the components into one chip. Unlike computers, the CPU is soldered on the chipset inside the mobile device, which tends to improve performance and saves a lot of space.
Popular SoCs are Qualcomm's Snapdragon, nVidia's Tegra, and Intel Atom (SoC). Read here for more information on SoC.
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