Omnivision makes image sensors for the iPhone. They're pretty good. Their latest sensor uses a new 1.1-micron pixel architecture that makes it "20 percent slimmer than any 8-megapixel module in commercial use today." Meaning it can fit in the super-cramped spaces available in ultra-thin phones.
Omnivision's also promising "significant improvements in power efficiency and image quality" with the OmniBS-2 pixel architecture, with a "20 percent improvement in peak quantum efficiency in all color channels, a 35 percent improvement in low-light sensitivity and a 45 percent increase in full-well capacity." And it fits in a tiny, tiny space: the autofocus camera module's just 8.5mm x 8.5mm, with a build height of 4.7mm.
(That's still bigger than the crummy camera shoved into the iPod touch, which is 6.5mm x 6.5mm, and 3.3mm tall—so maybe don't expect the iPod touch or iPad cameras to get too much awesomer any time soon.)
Overall, it sounds dandy on paper—anything that'll theoretically let stupid thin phones take stupid good pictures—but the real question is how the photos are gonna look. Mass production starts next year, so if it makes into a future iPhone we'll have to wait for until the iPhone 6 to see. [Omnivision, PR Newswire via MacRumors]