During his Wednesday speech at the Executives Club of Chicago, Sanjay Jha, the chief executive of consumer business and mobile devices unit at Motorola, reportedly tipped a forthcoming Android-based smartphone equipped with a 2GHz processor.

The supposed 2GHz smartphone will boast two times more processing power than the currently-available handsets – including the HTC Incredible, the HTC EVO, the Google Nexus One, as well as Apple own A4 processor that is capable of a maximum 1 GHz speed.

Going by reports from publications covering the event, including a ConceivablyTech report, Jha said during his speech that that Motorola will launch two to four Android-based handsets featuring videoconferencing capabilities this year.

Jha’s discreet mention of an upcoming 2GHz Android smartphone implies that the handset with a faster processor will bring about higher quality graphics, games, and enhanced video chat - a feature which is becoming increasingly popular among smartphone manufacturers.

While ConceivablyTech’s Wolfgang Gruener reported that Jha refrained from offering any further details about the 2GHz handset, Gruener also added that another Motorola executive – speaking on the condition of anonymity – revealed that the device would “incorporate everything that is technologically possible in a smartphone today.”

In addition, the Motorola source also said that handset will also support “HD screen resolution,” 720p output, as well as a more-than-five-megapixel camera.