There's nothing wrong with a little self-confidence – a quality which Apple appears to have in spades, as the Wall Street Journal recently reported the computer giant has high expectations for its yet-unannounced upcoming iPhone.

According to the Journal, component suppliers recently said Apple expects to sell 25 million units of the new iPhone by the end of the year. The Journal's sources, it said, were told to ship "a few million units" to assemblers in August.

The Journal stated that the new version of the iPhone – possibly the iPhone 5 or a new iteration of the iPhone 4 – will be lighter and thinner than current models. Additionally, the smartphone is expected to include an 8-megapixel camera and run on wireless baseband chips from Qualcomm.

The news provider's report aligns with several other sources that have recently stated the new iPhone will see either an August or September release. However, the Journal stated that the smartphone may be delayed due to complications with the touchscreen.

Regardless of the release date, Apple has a history of success in the smartphone market. According to recent figures from Nielsen, the iPhone captured 27 percent of the U.S. smartphone market sales in the three-month period ending in May.