Today, The Wall Street Journal independently confirmed reports that the next generation iPhone will be on the way in the third quarter of this year. According to sources close to the supply line, Apple's next iPhone is expected to trim down the famously svelte iPhone 4, making it both lighter and thinner than the current model. While plenty of other technology outlets had published similar details previously, the credible new report solidifies what we can expect from Apple's next generation smartphone. While we still don't know if the device will be named the iPhone 5 or the iPhone 4S, such significant improvements point to the former, which would make it an entirely new model, unlike the upgrade from iPhone 3G to the iPhone 3GS. The report also suggests that the next iPhone will have a camera upgraded to 8 megapixels, a resolution boost up from the iPhone 4's 5-megapixel sensor and a confirmation of an earlier rumor from Bloomberg. Bloomberg's sources also suggested that the smartphone will sport the same powerful A5 processor as the iPad, which would yield a significant a speed boost for the device. Yesterday serial Apple secret-leaker DigiTimes suggested that Pegatron, a Taiwanese component manufacturer, will ready 15 million of Apple's elusive next-generation phones for a September launch. According to The Wall Street Journal's new information, Apple intends to move 25 million units of its new iPhone by the year's end. Since Apple remained mum on the next iPhone during its big June event, evidence continues to pile up indicating that the company's next hot gadget will be hitting stores this fall. Source: Yahoo!