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Is iPhone 5 Coming later this year?

If rumors are to be believed, then a new iPhone is coming in the near future. The Wall Street Journal independently has confirmed reports that the next generation iPhone will be on the way in the third quarter of this year (2011). There are multiple reports from people close to the supply line that the new iPhone will trim even from fat of the already trim iPhone 4. Still the name of the new iPhone is unknown, will it be iPhone 5 or iPhone 4S. The new iPhone may also come with a camera upgraded to 8 megapixels and a powerful A5 processor as in the iPad.

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