Sure, the Touch HD that you can potentially win on pocketnow.com has the “HD” moniker, but it’s not really “high definition” as we know it in the digital television world. A company by the name of Renesas is looking to change that with a processor that will allow smartphones to display 1080p on that little, gorgeous screen. According to Engadget Mobile, availability and pricing is unknown still at this time.

Announced at ISSCC 2009 in San Francisco, Renesas Technology is showing off an application processor that enables handsets to process 1,920 x 1,080 resolution video at 30 frames-per-second; the processor’s core has a maximum operating frequency of 500MHz and supports MPEG-4 AVC / H.264, MPEG-2 and MPEG-4 video formats.