If you're on the fence about whether to buy the iPhone 12 when Apple finally unveils its new iPhone, the latest news from the company that makes the iPhone's processor may sway your decision.

The new A14 Bionic chip, likely to be in this fall's iPhones, promises to be a big leap forward from the A13 Bionic that has helped the current iPhone lineup set the pace for the smartphone.

TSMC, which manufactures chips for the Apple-designed iPhones, explained at its annual technology symposium this week some of the advantages of the new 5-nanometer process that will likely be used in the next iPhone processor, although Anandtech has the details. A table comparing the upcoming A14 Bionic to the current A13 Bionic suggests a 15% performance boost with the new chipset. The chip also has the potential to reduce power consumption by 30%.

Much of the added performance and power efficiency appears to be due to the A14's move to a 5nm process, while the A13 is a 7nm chip that will be able to fit more transistors into its chip housing as they become smaller. Currently, the A13 bionic model contains 8.5 billion chips; the A14 bionic version will contain a whopping 15 billion chips.

With this in mind, the iPhone 12 series could be one of the first smartphones to use 5nm chips, beating out Samsung's Galaxy series. tsmc is already preparing a new 5nm node known as N5P for volume production next year. It is preparing to do so. Currently, TSMC estimates that N5P, when available, will enable a 10% upgrade in energy efficiency and a 5% upgrade in performance. If this is true, this new version of the chip will likely be included in the next iPhone, scheduled for release in 2021.

In addition, TSMC mentions a 3nm design that will appear in late 2022, possibly in iPhones released that year. In that case, performance gains of 10% to 15% are expected.

Previous A14 leaks, including from TSMC itself, have touted the performance potential of this chip. Benchmarks leaked in the spring pointed to performance comparable to the iPad Pro, and there is talk that a phone with the A14 could theoretically be as fast as an Apple laptop.

Now we just have to wait for a new iPhone with these faster chips. According to the latest rumors, the iPhone 12 could be announced as early as September, with the phone itself shipping in October.