The report states that the company is looking to rush Ice Cream Sandwich (ICS) out the door because Apple's next-generation iPhone is slated to launch in September or October, as we've discussed before. An ICS release could blunt, at least somewhat, the impact of the latest Apple device on Android device sales.
Generally, Google has unveiled a new smartphone version of Android with a new Nexus device. It was rumored in late June that Google was going to release a "Nexus Prime" across all Big 4 carriers, but it was also rumored that ICS might be released on a number of devices via a number of OEMs at once.
Ice Cream Sandwich will also be the first version of Android to unify platforms across tablets and smartphones. Once it releases, there won't (cross your fingers) be such a different experience when comparing tablets like the Samsung Galaxy Tab 10.1 to the Motorola Droid 3.
Although an early release of ICS would be to reduce the impact of the iPhone 5, Google has another "savior" coming soon as well. Samsung's hot-selling and hot-performing Galaxy S II is set to hit the States, perhaps as early as this month or September.