Apple iPhone
Apple iPhone Reuters

What features the next iPhone will have is a question that has given rise to a vast range of speculations. Over the last few months several iPhone successor features were discussed by tech websites and in the blogosphere. Some rumors were supported by image leaks, sources from manufacturing partners while other features were thought based on what competitors offer.

Now, it looks like the 8 megapixel camera is one feature that's finally confirmed and OmniVision has received an order from Apple for the supply of 8 MP camera sensors.

Following are the latest information about the next iPhone, which may be either called iPhone 4GS or iPhone 5.

New iPhone 4GS (codenamed N94), should have an 8 mega-pixel camera with OmniVision's CMOS sensor and Taiwan-based Largan's lens, with Sony and Kantatsu as back up suppliers, FBR Capital Markets analysts wrote in a note to clients.

DigiTimes has reported that OmniVision will supply about 90 percent of image sensors for the Apple iPhone 5. Sony will get only 10 percent of the pie. This should be a letdown for Sony, as it had announced a couple of months back that it would supply all of iPhone 5 camera sensors.

Also, the brokerage believes Apple's iPhone 4GS is not a 4G LTE phone as that technology is still a power/battery hog).

The new iPhone isn't likely to include LTE (4G) functionality said Jefferies & Co. analyst Peter Misek. Instead, it will be an upgraded iPhone 4, most notably with a faster processor and some updated specs.

According to our industry checks, the device should be called iPhone 4S and include minor cosmetic changes, better cameras, A5 dual-core processor, and HSPA+ support, he writes in a research note.

The A5 processor is the same chip that Apple rolled out to power its iPad 2. As for LTE, he says the Qualcomm LTE chipset Apple would have used is currently not achieving yields sufficient for inclusion in the iPhone 5.

The next iPhone will use a Qualcomm baseband and not an Intel/Infineon baseband.

We still expect the device to be announced or launched just after Labor Day, though sales and builds to more meaningfully ramp in mid- to late-September, analyst Craig Berger said.

Last month, an image leak had suggested that the soon-to-arrive Apple iPhone 5 will not feature a rear camera accompanied by LED flash to its right.

The image of an iPhone 5 case published by shows a camera flash on the far right of the rear of the new iPhone, according to AppleInsider.

Earlier still, there a video circulating on the Internet, which purportedly showed a white iPhone 5 running on an updated version of iOS. The video revealed the prospects of Apple adding full multi-tasking functionality in the new iPhone.

In March this year, iDealsChina showed in its website what it said was a leaked image of the iPhone 5 phone. The handset's screen looked larger and the hardware was bigger overall.

Earlier, in January, another Chinese technology website, Zol, posted some details of the rumored iPhone 5, with (what appear to be) concept design images.

An image published by a Chinese reseller of Apple parts showed what looked like the digitizer panel of iPhone 5. If the image is authentic then the new iPhone will have a 4 inch display but within the same encasement, made possible by a technology that extends display over to the edges of the phone.

Tech websites have also been musing about additional gaming features in the new iPhone. There has been buzz that the next generation iPhone will leverage on the fast growing gaming market.

There is also near unanimity in gadget circles that Apple will bring its A5 chip on to the iPhone 5, which could hit stores in September this year. The buzz is that Apple will unleash the gaming performance and speed of A5 chip in the upcoming iPhone model.The A5 processor is the same chip that Apple rolled out to power its iPad 2.