Both AppleInsider and Mac Rumors are speculating that the upcoming iPhone will make use of the ARMv7 Cortex processor. It should be noted that the ARMv6 is currently in use in the iPhone 3G and iPod touch.

Although not likely to be related Mac Rumors points towards a job posting on Apple’s website which seeks knowledge of ARM processors, including their NEON vector unit.

The successful candidate will have excellent understanding and knowledge of processor architecture, specifically ARM and its vector unit NEON. Additional Intel SSE or PowerPC AltiVec is also very helpful. Being able to use processor micro-architecture to write and deliver fast routines is an essential attribute.

NEON is an extended instruction set which can be compared to Intel’s SSE or PowerPC’s AltiVec and often give multimedia applications a boost. The rumour sites speculate that the instruction set could be used to aid in intensive operations involving video such as recording, editing and processing; all of which are rumoured to be a big part of the new iPhone.

As the job posting is recent it would be unlikely for it to relate to the upcoming iPhone so exact details on processor are effectively unknown.

Finally, Mac Rumors points towards another job posting on the Apple website which seeks an individual with experience in real-time media and networking applications over Wi-Fi and celluar networks and to deliver “cutting edge embedded video processing”.