ESM China analyst Sun Chang Xu (via GforGames) believes that Cupertino is planning on using an electronic image stabilizer for the camera of the iPhone 6, instead of optical image stabilization.
Unlike OIS, electronic image stabilization (EIS) allows for a thinner form factor for the next iPhone, without a protruding camera.
In order to integrate optical stabilization, it is necessary to have a little room for mobile optical parts.
EIS would reduce the production costs and the thickness of the sensor itself.
In addition, he says the pixel size on iPhone 6 would be 1.75 um, compared to 1.5 um pixel on the current iPhone 5S.
This would improve the quality of photos as it would capture more light.