The answer for the future of Intel and something that comes beyond Atom Z670 Oak Trail is codenamed Medfield and it's been expected for quite some time now.
Last year we had a chance to see an actual phone based on 45 nm Lincroft 45nm processor, a key part of a Moorestown platform and despite quite high idle power consumption. The chip was capable of performing better than any ARM based chip at the time.
Back then, in the summer of 2010, we heard that the next generation platform, codenamed Medfield, is going to be a huge step forward and that it can solve the idle power problem. It is naturally Atom based and it comes in 32nm.
Prototypes are finished and phone companies are playing with it. We don't have any specific information about any names, but we heard that many plan to include Intel chip in their future phones. The launch date will mainly depend when the partners can be ready with the phones that they intend to market.
We already mentioned support for Android 2.3 and Ice Cream Sandwich as well as MeeGo, and these operating systems are Intel's only choice. The possible chip launch date is Q3 2011, most likely IDF on September 14, as the mobile keynote takes place on the second day of the show, but this is pure speculation on our part, the date of course, the rest is solid.
Phones based on Medfield will most likely show in early 2012 with a slight chance to see some designs in late 2011. So, Intel has a viable mobile strategy and it plans to take on ARM in just over a year.