This is an iPhone 5 mock-up by Italian designer Federico Cicarese. It really just looks like a Magic Mouse with a a camera (and a few minor adjustments) and the front panel of an iPhone.
To be honest, it doesn’t look like a design we’d ever expect to see from Apple. Regardless, it’s an interesting concept, and we will give it that. While some may like the curved look of this mock-up, we have actually grown to love the flat sides of the iPhone 4 and iPhone 4S. It’s nice and it’s modern, even as the design is well over a year old.
You can take a look at another picture below and a few more at Giga.de.