Digitimes is reporting on the possibility of the iPhone 5 touting a dual-core processor. Not much of a surprise, considering that the new Android devices will be sporting such chips, and I don't see Apple falling short for competition. This means better gaming and video experiences, as well as a nice speed increase. We should see this migrate over well to the iPad 2, so we can expect to see upgrades on both devices.
With strong competition coming from Google devices, and other smartphones, Apple sounds like they are ready to up the competition once again. The iPhone 5 is expected to be released in the USA about June or July, (same months that iPhone 4 debuted last year), however it seems as though most of this ETA is mostly based on rumors, but then again, the iPhone 5 is a rumor all together.
Can we expect dual-core processors? Probably. Can we expect the iPhone 5 this year?