Qualcomm's has just started shipping its latest generation chipsets to manufacturers. Offering two application processor cores running at 1.2 GHz, integrated graphics core and 1080p video encoding those should become available on high-end smartphones in the near future.
The Snapdragon MSM8660's integrated graphics core supports OpenGL 2.0 and allows 1080p video recording and playback. The maximum display resolution support is extended to 1280x800 pixels with 24-bit color. The other features of the chipset include an integrated GPS receiver and dual-mode HSPA+/CDMA and 1xEV-DO Rev. B capabilities.
The other Qualcomm's third generation chipset - MSM8260 is basically identical to the MSM8660 but only works on GSM and UMTS networks (HSPA+ support is included though).
The final member of the Qualcomm dual-core family, the QSD8672, which has its CPUs clocked at 1.5GHz, isn't avaialble yet, but will launch before the end of the year.
It seems the smartphones we are going to get for this year's holiday season will pack quite a lot more oomph than we are seeing now.