This one might not make it into the next iPhone, as we know OmniVision had quality assurance and production capacity problems with it a month ago, which might have forced Apple switching to alternative camera module suppliers, like Sony. The OV8850 is much slimmer than its predecessor, at 0.19" (4.7mm), so, considering that the camera module lately appears to be the thickest part of phones like the Samsung Galaxy S II, we can expect even svelter devices in the future, which the rumors for a thinner iPhone in September seem to confirm.
The new 1.1-micron sensor is packing some other geeky features as well, like "an on-chip temperature sensor, two PLLs, context switching, 4 Kbits of one-time programmable memory, lens shading correction, defective pixel cancelling, black sun elimination, and alternate row exposure for high dynamic range (HDR) video and still image capture".
It's anyone's guess if OmniVision managed to ramp up capacity enough since July for Apple to have included the OV8850 as its next iPhone camera module, but we should know soon enough if we are taking pictures with a Sony, OmniVision, or some combination in the first batches of this year's iPhone edition.
source: OmniVision via Electronista