To be clear, this is not an iPhone 5. However, the word is that this is clone made in the same factory where the iPhone 5 is being produced. If you've been following Apple for any length of time, you'll know that before their new products launch, many Chinese manufacturers will already have cases for the products in production. This is typically because someone in the factory gets access to the blueprints, or a physical device, and goes and sells it for a nice profit. This is why a bunch of Foxconn workers were fired recently.
Anyhow, we've been hearing that the new iPhone 5 will be thinner than the iPhone 4, will sport curved glass on the back, and will have a slight teardrop shape. The phone in these images matches those specifications. However, it's hard to tell the size of the display here, but the iPhone 5 has long been rumored to have a larger display than the previous four devices that came before it. We're expecting the iPhone 5 to launch in late September or early October, which means that construction is definitely underway to prepare for the millions that need to be available for launch in the next 6-10 weeks. It wouldn't surprise us at all if what we see in these images turns out to be what we end up seeing in stores.