(warning: contains loads of rumours and wild speculation
)
Late 2011:
Google Nexus 3. Made by LG, powered by nVidia Kal-El/Tegra 3 (40nm quad core A9, average GPU, excellent decode/encode)
Motorola Titan. Tegra 3 but won't be sold in the UK.
Sony NGP. 40/45nm quad core A9 + quad core SGX543 gpu (ST-Ericsson?) and a high end 5" OLED screen (White OLED backlight type?) Not a phone but should point to 2012 SE hardware... hopefully.
Note: Quad core A9s will benefit tablets over phones, the SGS2 should still be market leader with a cutting edge screen, decent encode/decode, competitive GPU (it has less pixels to push) and camera.
Early/mid 2012:
28/32nm die shrink A9s (Same architecture, slightly faster clocks and lower power requirements)
Samsung GS3 @ 2Ghz?
Think Desire > Desire S (65nm > 45nm snapdragon) No massive gains but should make a decent upgrade (Some Manufactures could skip this and go straight to A15 cores)
Same old LCD screens and more pentile AMOLEDs, qHD will become standard.
Late 2012:
28/32nm A15 SoCs + Qualcomm Krait
Faster than your old Intel Core2Duo laptop with true PS3 rivalling output (ARM say a dual core A15 is faster than a quad core A9 btw)
Maybe we'll get 300ppi sAMOLED+ screens by then too?
The Nokia N8 still has the best camera.
3D phones fail or become utterly essential.
New LG OLED factory comes online and produces something to rival sAMOLED+.
After more delays the white iPhone 4 is unleashed to critical acclaim.
Symbian to make a retro comeback, beats the crap out of Android/iOS/WP7 or W8 becomes the OS of choice.