Motorola Olympus is the rumored Tegra 2 Android phone that is coming from Motorola and will show up on AT&T's network early next year. The guy who leaked these pictures is saying this will be an "iPhone killer".
I suppose he referred to the fact that the phone has a lot better specs than an iPhone, but it can't be a killer in the real sense. I say that because no phone can kill iPhone at this point, even if it does sell more units than an iPhone on launch day. The iPhone is all about its ecosystem of apps and developers at this point, and if there is anything to "kil,l" or rather slow down iPhone adoption a lot, it's the Android OS itself.
But on to the Motorola Olympus. It should be one of the first phones that comes with a dual core processor early next year. Next year all high-end phones will be dual core, so this phone should be a great step into the next year for Motorola.