The rumor mill is swirling up a storm for Apple's next iPhone launch. The company has placed orders for key components to be used in the next-generation iPhone, scheduled for launch sometime in the third quarter, according to The Wall Street Journal, which based its report on information provided by suppliers. The new version of the iPhone is expected to be thinner and lighter than the iPhone 4, the sources said. It is expected to sport an 8-megapixel camera and operate on Qualcomm's wireless baseband chips.