Mobile phone makers are scrambling to come up with a response to Apple's iPhone 4, which was just announced Monday (though we knew it was coming considerably before the announcement)--and it looks like Motorola may have come up with a pretty good one: a 2GHz smartphone by the end of the year.

Now Conceivably Tech reports that Sanjay Jha, CEO of Motorola's consumer business and mobile devices division, confirmed that the company will have a 2GHz smartphone by the end of the year. Jha spoke at the Executives Club of Chicago on Wednesday--at the same event where, last year, Steve Ballmer mentioned Microsoft's plans for "Project Natal."

Jha also spoke about the mobile devices industry, and predicted that within a few years most corporations will give their employees smartphones instead of notebooks. Jha did not elaborate any further on the upcoming 2GHz smartphone, though an anonymous Motorola executive told Conceivably Tech that the new phone will "incorporate everything that is technologically possible in a smartphone today." According to this executive, the phone will be Android based, and include a gyroscope and Nvidia Tegra-based graphics processor with full Flash 10.1 hardware acceleration.

The snappiest smartphones on the market today--including the Google Nexus One, HTC Evo, and the HTC Incredible--use a 1GHz Qualcomm Snapdragon processor. Apple is in the same league--the iPhone 4 features a 1GHz A4 processor. Qualcomm recently announced that it will be introducing dual-core smartphone processors--Snapdragon chipsets with two processor cores that run with speeds of up to 1.2GHz.

It's unclear what the 2GHz chipset in the new Motorola phone will be, but it looks like it will be at least twice as fast as any smartphone on the market today.

Watch out iPhone 4.