According to IHS analyst Kevin Wang, this year's iPhone 6s will feature a higher 12-megapixel camera, corroborating well-informed KGI Securities analyst Ming-Chi Kuo. Wang claims that while the iPhone 6s will feature a 12MP camera, the pixel size will be smaller.
In general, the larger the pixels, the better low-light pictures you can take. Of course, there are many more factors that go in to play when taking a picture (sensor size, image processing, etc), so Apple could always mitigate the impact of smaller pixels with other improved internal components.
Notably, Daring Fireball's John Gruber suggested the next generation iPhone could feature the 'biggest camera jump ever' featuring a two-lens system.
The iPhone 6s is expected retain the design and chassis of the current iPhone 6. The device will mostly featured improved internal components, including Apple's force touch technology as well as an improved processor with 2GB of RAM. Apple will likely announce and release the device sometime next fall.
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