The new Apple iPhone will have a faster processor and an improved camera, according
to Bloomberg, which cited “two people familiar with the plans”.

The report said that the new iPhone would be upgraded to include the same A5
processor found in the iPad 2 and that it would have an 8-megapixel camera -
an improvement on the 5-megapixel version found in the iPhone 4. The new
phone will launch in September, Bloomberg said.