Apple looks likely to be using the A5 chip, found in the new iPad 2, in the forthcoming iPhone 5, bringing enhanced functionality and dual core power.

Developers have now got their hands on the new version of the iPad, iPhone and iPod touch OS, and hidden within the package is a kernel for a device names N94AP.

The iPhone 5 has already been touted as running under the development codename of the N94AP, according to 9to5Mac.

Thinner, faster, lighter again

iOS developer Filippo Bigarella posted the screenshot of the code containing the dual reference to the iPhone 5 and the new A5 chip, meaning the new iPhone will come with improved power and speed while hopefully maintaining the same leap forward in battery life the iPhone 4 brought.

It's not a huge leap to work out the two devices will be running the same hardware – the first iPad and the iPhone 4 both used the A4 chip, although it's strongly suspected Apple underclocked the 1GHz CPU in the iPhone 4 after refusing to give out its clockspeed.

We're feverishly awaiting the iPhone 5 launch, set to be in June; will the new device be evolutionary or revolutionary? Can the rumours of a larger screen be true? Only a few months left to wait...

Via iClarified