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The Intel Core i3 processor is the closest successor to the now out-of-production Core2Duo processor. The most significant differences between the i3 and i5/i7 is the lack of Turbo Boost and less cache (L3) memory. The i3 offers moderate all-around performance and is often found in budget-oriented systems.
Another major difference is the number of cores available. On the desktop, Core i5s always have four cores, but Core i7s can have between four and ten cores. That means an eight core i7 can handle 16 threads at once with hyper-threading, and a ten-core i7 processor can handle 20 threads at once.