What the PS VR external processor unit is for?

When I looked at the PS VR package description, it mentioned an external processor unit - what is it for? Does it provide an extra processing power for the headset?

The external PU doesn’t provide any extra computing power, it was designed to provide 3D audio, display the social screen, a separate audio and video stream to a TV and for displaying the PS4 system software interface in cinematic mode. You can find much more details in this article on eurogame.net.

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