We've already been hearing confirmations that Apple's next iPhone will be released in Q3 of this year, specifically in September. The Wall Street Journal has now joined the fray by reporting that Apple, "has placed orders for key components used in a next-generation iPhone it is preparing to launch sometime in the third quarter, according to people familiar with the situation."
According to The WSJ, the next gen iPhone will sport an 8-megapixel camera, Qualcomm baseband chips, and boast a thinner/lighter design. Nothing was said about the GSM/CDMA world phone rumor, but it's still expected that the iPhone 5 will operate on both carrier basebands.