According to DigiTimes, the next iPhone will run on the quad-core Samsung Eynos 4 CPU and will be branded under the name A6. This chip is the same as that used in the Samsung Galaxy S III.
This would be the very first iOS device to have a quad-core CPU and possibly one of the first devices to combine LTE networking and quad-core performance in the USA. All current iOS devices are either running on single or dual core chips, with the new iPad having a quad core GPU. The new iPhone should also have an NFC chip, which would allow for mobile payments via Passbook and quick file sharing.
Other changes that will likely be brought to the new iPhone include a larger screen, a new dock connector and a revamped design.We should see this phone on the market sometime between August and October.