Will Apple (NSDQ: AAPL) do to the camcorder industry what it has done to the music industry? Yes, according to an article in BusinessWeek today, which strings together a number of events to make the bold prediction that we are “about six weeks away from the next big thing.”

It argues that Apple is on the cusp of turning the iPhone into a powerful camcorder that would get rid of cumbersome cables and complicated video-editing software. “My gut tells me Apple will make the iPhone a one-stop studio for recording, editing, viewing and sharing your own videos. Actually, more than my gut. I’ve spoken with a source that is familiar with Apple’s plans for the next iPhone, which may well be announced at Apple’s Worldwide Developers Conference in early June.”

Since the iPhone launched in 2007, it has only been capable of shooting photos, not video. And at Apple’s March event, where it unveiled the features of the upcoming 3.0 software release, it made no mention of whether there will be video-recording or not. BusinessWeek suggests the silence is telling. The big question is what would be so great about video on the iPhone? It’s all about usability. Shoot a video, save it to the phone, send it via MMS, or immediately edit it using an application. To be sure, Apple will have to come out with something soon. Google’s Android is pushing out a software update this week that will allow T-Mobile G1s to record video. Windows Mobile and BlackBerry have already support the functionality for some time.