Apple's mobile processors are due for an upgrade, according to reports at Bloomberg. Expected to be named the A12, the new chipsets are said to be ready for production by Apple's supply partners, with them set to be placed inside of the new iPhone models that the company will reveal later this year.

The chipsets are also said to use a 7-nanometer manufacturing process, which is a standard that the mobile industry has been moving towards for some time now. The upside of the 7-nanometer architecture not only means smaller chips, which in turn results in more space inside the device for other elements, it is said to enhance the efficiency and cost of production too.

Whether or not other chip makers are capable of matching the A12's 7-nanometer design remains to be seen, with the current leading processors like the Apple A11 and Qualcomm Snapdragon 845 utilising 10-nanometer. As such, the upcoming iPhone devices could have a leg up on the competition when it comes to the processor when they're revealed later this year.