by , 10:35 AM EDT, July 31st, 2008

Computer chip maker ARM recently struck an architecture licensing deal with an unnamed company, and many in the industry are speculating that company could be Apple, according to EETimes.

The deal gives the mystery company the ability to design customized ARM chips, which in turn could be used in devices like cell phones and other smartphones. If Apple is the licensee, the company could be planning to use customized ARM technology in future iPhone or iPod products.

Warren East, ARM Holdings CEO, commented "Some handset manufacturers want to have more control over the design of their handset, including the components within it, than others. And it's as simple as that."

Apple recently purchased the chip design company PA Semi and its boss Dan Dobberpuhl -- both of which are familiar with developing processors based on architecture licenses.

If the speculation is right and Apple has signed a deal with ARM, there will likely be some big internal changes in store for the iPhone, and odds are they won't include chips from Intel.