We’ve been hearing for a while that Intel is working on a dual core Atom processor for netbooks. Now Fudzilla has a name for the chip: The Atom N550.

The Atom N550 will reportedly have a clock speed of 1.5GHz, 1MB of L2 cache, and two cores with support for hyperthreading.

Fudzilla says the TDP will be 8.5 watts, which includes the power consumption for the CPU and integrated graphics and memory controller. That’s a little more power than the Intel Atom N450 and N470 single core chips use, but that’s what you get for doubling the number of processor cores.

The new chips will reportedly hit the streets in the third quarter of 2010.