The creator of iPhone jealbreak and unlocking tool ZiPhone found a small line of code that refers to a chipset calld "SGOLD3." Further investigations by Engadget point towards this chip as an Infineon PMB8878 (PDF) the successor to the SGOLD2 which is used in the current iPhone.
The SGOLD3 chip is capable of 7.2Mbps HSDPA, and includes video acceleration and media playback and offers support for 5 megapixel cameras, 2x speed MMC/SD interface and DVB-H module support. The processor speed remains the same as the SGOLD2.