Motorola’s Droid 3 has launched and is available on version for $199 with two year contract or $459 contract free. You can read the details here.

Motorola did say that it uses a dual core 1GHz chip but it didn’t go into any specifics of the chip manufacturers. Two companies where mentioned as potential candidates first Nvidia in rumours and later Texas Instrument with its OMAP chip.

Our well informed sources have confirmed that the chip inside is a Texas Instruments OMAP 4430 clocked at 1GHz. OMAP 4430 enables 1080P support in 2D, something that Motorola has already advertised and 720P support in 3D in case you use it. The imagining processor supports an astonishing 20 Mega Pixels while the 3D camera in case you use one can cope with 5MP.

Naturally both 2D and 3D are hardware accelerated and it will be fun to compare this chip against Tegra 2 especially since OMAP 4430 has POWERVR SGX540 a chip that is twice as fast as the previous SGX530.

Apple’s iPhone 4 uses SGX 535, slower than SGX 540 chip making this TI chip the winner in phone arena for now, but iPhone 5 is getting the new A5 chip boosted with very fast SGX 543 graphics and you can see what kind of difference does this graphics core makes here.