Intel has with the Core i7 a dominating presence in the high-end PC segment. Intel is supposed to bring more affordable Core i5 CPU (codename Lynnfield) and chipsets this year.
In April the Core i5 CPU speeds and the volume pricing already leaked. The Core i5 CPUs would come in 2.66GHz ($196), 2.80GHz ($284), and 2.93GHz ($562).
Digitimes reports today that Intel has delayed the launch of the Core i5 CPUs from July to September. Intel Core i5 CPUs are though already supposed to hit retail in mid-August. The Intel Core i5 entry in Wikipedia is already stating a Core i5 release date in Q3 of 2009. I'm not sure if Intel really delayed the Core i5.
Some Core i5 CPUs are apparently already circulating in Asia. On a forum page on xfastest (Via Fudzilla) you can find benchmarks and photos of what is supposed to be a Core i5 2.66Ghz CPU.
If you want the best CPU speeds that Intel has to offer you do not have to wait for the Core i5 just get the Core i7 now.
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