Qualcomm has announced their new generation of Snapdragon processor, the Qualcomm MSM 8960, based on the 28 nm architecture, which offers 5 times the performance of the current generation devices, in part due to having dual cores, and also due to a new processor architecture which contributes a 2 times faster performance.
The next generation of built-in graphics processor, the Adreno 3XX, also promises graphics performance as good as an Xbox 360 or even PS3.
The chipset will also support LTE, and will hit the market in 2011.
Qualcomm is a strategic partner of Windows Phone 7, which will hopefully translate in the next generation of Windows phone supporting these advanced processors fully.
Read more at Anandtech here.