BGR says a source close to them has been reported that Apple is preparing to launch an aluminum iPhone 5 next Fall 2012.
It would be very similar to the iPad 2, something like what you see in the model above, with rounded edges. Possibly the iPhone in question had already rumors before the launch of iPhone 4S, one that was thicker at the top.
Also said to have a larger screen, probably 4 inches. Perhaps this is the iPhone that many of us were waiting at the launch of the iPhone 4S.