During the iPhone 5 announcement, Apple mentioned the new phone would have its own new chip, the A6. Specific specs were sparse then, but AnandTech did some sleuthing and found the chip packs 1GB of RAM, and 33% more peak memory bandwidth than the iPhone 4S.
As it turns out, the alphanumeric code on the right side of the chip is actually a Samsung part number, and by digging through Samsung's product guide, AnandTech was able to find that the A6 is a dual-channel LPDDR2 package with 32-bit channels, has two 512MB DRAM die for a total of 1GB, and a speed of 1066 MHz.
This means that the iPhone 5's peak memory bandwidth is 8528 MB/s, or a 33% improvement over the iPhone 4S's 6400 MB/s, which should help out of the iPhone 5's faster GPU and higher resolution display. It's nowhere near the new iPad's 12800 MB/s, but then again, it doesn't need to be. There are, of course, other factors at play when it comes to how the iPhone 5 will perform on the whole, but we'll just have to wait and see about those. [AnandTech]