That the competition in the smartphone market is intensifying even further is evident from the fact that on Wednesday, June 23 – that is, one day before the June 24-scheduled launch of the Apple iPhone 4 – Motorola, Verizon, and Adobe will introduce the next generation of Droid mobile devices.

With speculations galore about what the forthcoming Droid will look like, two different handset rumors are making rounds online – while gadget blog Engadget reports that the new Droid will be a compelling new handset called ‘Droid X;’ another Droid-specific blog, DroidLife, has posted pictures of the ‘Droid 2’, which largely features a few minor tweaks to the original Motorola Droid.

As per Engadget reports, the forthcoming Droid X will feature a 1-GHz processor; a 4.4-inch capacitive touchscreen with 854 x 480 resolution; an 8 megapixel camera with flash; an HDMI out port; and 8GB of built-in memory.

While the Droid X handset will initially run the Google Android OS version 2.1, there is a strong likelihood that the device will soon upgrade to Android 2.2 “Froyo”, largely because the device’s rumored Flash 10.1 support will require the latest Android version.

However, DroidLife’s reported Droid 2 apparently is more or less similar to the existing Droid version; but with some minor updates that include a faster processor, a new keyboard, and Android 2.1 operating system.