Update: Apparently this is a semi-elaborate hoax being perpetrated by a gentleman named Richard Windmann of Fort Worth, Texas. He’s reportedly been attempting to trick numerous publications with this false story and image. Thanks to the team at MacRumors for the heads up.
This is a screenshot taken from the About screen of an iPhone 5, according to someone who claims to have access to a testing unit of the unannounced handset. The most notable aspect of this image is the alleged storage capacity: it would seem to confirm that the next iPhone will have at least 64GB of flash NAND. However, an even more interesting claim is being made of which there is no proof: the iPhone 5 is said to eschew the iconic hardware home button for a virtual one which appears onscreen.
This configuration apparently allows for a larger screen, although no specific dimensions were given. The unit in question is, naturally, described as being black, and it’s not clear if there would be other colors available. The screenshot shows the latest build of iOS 5 (beta 7), although obviously this sort of image is trivial to fake.
There are, however, still more questions than answers at this point.