"[A] number of components have required a slim-down. The component that will undergo the most dramatic make-over is the rear camera. Our research shows that iPhone 5 will feature the first-ever slimmed rear camera of all iPhones, in an effort to deliver an ultra-slim iPhone 5.
Meanwhile, to enhance photography effects, iPhone 5’s rear camera will feature a larger f/2.2 aperture than iPhone 4S’s f/2.4. However, larger aperture means more noises. In addition, the reduced thickness means even greater challenges for lens design and assembly, as not only the lens, but also the voice coil motor (VCM) and CMOS image sensor (CIS) need to be slimmer. Finally, the compact camera module (CCM) suppler, responsible for the terminal assembly, will be confronted by assembly yield."
Other Kuo's statements are:
- The front-facing camera will be HD instead of the current VGA
- The front-facing camera adopts new flip-chip package to reduce its thickness