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Apple Preparing for New iPhone in Third Quarter

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Wall Street Journal: Unnamed sources tell the Wall Street Journal that Apple has placed large component orders with its suppliers in preparation for the launch of a new iPhone in the third quarter. "Apple's sales estimates of the new iPhone is quite aggressive. It told us to prepare to help the company meet its goal of 25 million units by the end of the year," said one person familiar with the matter.

Sources say the iPhone 5 will be thinner and lighter than its predecessor and that it will have an 8-megapixel camera.

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