Report: ARM Processors to Reach 3 GHz by 2014
According to Phys.org, GlobalFoundries and TSMC plan to release ARM processors capable of running at 3 GHz “sometime next year.”
ARM manufacturers GlobalFoundries and the Taiwan Semiconductor Manufacturing Company (TSMC) have revealed that they plan to release ARM processors capable of running at 3 GHz “sometime next year.” These new processors will utilize a new 20 nm manufacturing process that claims to offer better power efficiency and result in less battery drain for users.
Phys.org has speculated that the launch of more capable ARM processors may help to “stave off the recent incursion” of Intel’s Bay Trail processors that appear to be approximately 30 percent faster according to recent testing. The site also noted that AMD is currently developing an “ARM competitor” that is expected to be introduced next year.

Can't wait till valleyview gets here this holiday season! Valleyview is more like a Core than an Atom processor. quad core x86 valleyview tablet will mark the beginning of the shift to true hybrid devices... and I actually might replace my laptop and tablet with a single device.
You don't get high efficiency by "not doing much". It's measured by stuff like dMIPS/watt and MIPS/watt. ARM processor performance is still going up at a faster rate than intel, while decreasing in power. Creating processors that are capable of 3GHz doesn't hurt ARM at all, and is probably more akin to Intel's turbo boost technology than anything else (higher max performance, but not the typical operating speed or most efficient speed)
Is ARM going to expand its offerings into PC market? Stepping into high performance market it would certainly mean so. The limitations which Intel guards closely for x86 instruction set will not be able to hinder ARM in the same way. ARM is totally new chip, being cheap and having Android/Linux platform as backing.
Same ARM platforms are currently being integrated in various Asian make TVs, which come with equal or higher performing graphics chips than found in tablets! In case of TV, which can be converted to a monitor it would mean that a whole computer can be integrated in same case. Further, it would mean ready to use Android/Linux platform similar to PC.
Intel does not step out of its boundaries which are strictly defined by x86 instruction set: PC and server hardware. ARM does not have limitations like this. Moreover, ARM is not company that manufactures chips, however is a patent company that sells architecture information to various chip companies such as Atmel or Samsung. Which in turn make ARM chips not only for industrial use, but for hobby use as well! Hence popularity of ARM chips among younger generation of programmers! Beat that Intel!
AMD used to be in the ARM and low power processor and graphics business until 2008 ish, when they had to sell off assets to avoid bankruptcy. Qualcom bought off their mobile assets and engineers and have been using their old IP's since then. Where do you think the word "Adreno" comes from? It's an anagram of Radeon