Two versions of Compute Module 3 launched. The first is the ‘standard’ CM3 which has a BCM2837 processor at up to 1.2GHz with 1GByte RAM, the same as Pi3, and 4Gbytes of on-module eMMC flash. The second version, ‘Compute Module 3 Lite’ (CM3L),which still has the same BCM2837 and 1Gbyte of RAM, but brings the SD card interface to the Module pins so a user can wire this up to an eMMC or SD card of their choice.
Know more: https://www.raspberrypi.org/blog/compute-module-3-launch/
