It looks like Gizmodo was able to get a hold on the next generation iPhone prototype. The prototype has has dual camera - a small one is front-facing and a bigger one is on the back.
Thanks to R.C. for the link.
Update: Korean Chosun Ilbo reports that LG Innotek is supplying the camera module for iPhone 4G. The camera modules are manufactured at its plant in Gumi since April 2010. The company will mass produce them starting in the second half of this year.