It has been no secret that the iPad 2 will be getting a major graphics boost thanks to Apple’s intention to install a version of their Retina display in the forthcoming tablet. But if the latest rumors are to believed, not only would the device receive a much needed resolution bump, but a graphical one as well, as would the iPhone 5.

With the advent of 1080p, comes the requirement for faster and better hardware. Up until now, most top of the line mobile devices have been able to play 720p video with no problems, Apple included. But as the industry takes another leap, this time towards the full HD resolution of 1080p, the hardware requirements must be beefed up as well.

A new chip in the iPhone 5 as well as the iPad 2 would enable both devices to render polygons at a much better frame rate without hiccups or sluggishness. Not only that, but according to reports, the same chipset that is arriving in the iPhone 5 and iPad 2 will be making their way to Apple’s next generation Apple TV line which would enable the device to pump out 1080p videos from Netflix, Hulu and iTunes.

This would mean huge gains for game developers who have been pushing the boundaries of the iPad recently, and with Apple having a firm foot in the mobile gaming department, an update to the iPhone and iPad’s A4 processor, one that would give it that extra oomph, would once again set it in a class of its own.

To be expected, Apple is not discussing details about the device or any speculations at the moment, but the company is slated to be holding a press event within the coming weeks/months that would clarify these rumors or annul them.