updated 05:40 pm EDT, Sun April 18, 2010
iPhone HD possibly photographed for real
(Update 3: may not be fake after all) The iPhone HD may have been seen in complete form today through a discovery in San Jose. Lost by its owner and hidden in an iPhone 3G case, the device would be a radical redesign that should include the front video camera that justifies the taller build. It would also have 80GB of maximum storage rather than the more likely 64GB, according to Engadget, and was running a newer version of iPhone OS (likely 4.0) before it stopped booting.
Cosmetically, the phone would be the first major re-imagining since the iPhone 3G and would have aluminum sides, not unlike the iPad, but with buttons for volume in place of the rocker switch. It appears to have a flatter back that's still made of plastic to maintain the necessary cellular reception. The model appears to be a prototype as it uses "X" as a placeholder for both the capacity and identifiers like the FCC ID.
Assuming the device is real, it remains possible that the iPhone shown won't be directly reflective of the final model as Apple is known to make design changes even very late into development. However, Apple usually needs to start mass production of iPhones in spring ahead of an early summer launch and thus may have had to produce a small batch for testing.
Update: A Twitter poster uploaded a mosaic of photos of the exact same device that were originally posted by a Chinese user on February 20th. The shots are consistent with the more recent leak and Apple's design; they also show more details, such as the inside of the phone and a clearer view of the front camera.
Update 2: An overnight follow-up suggests it's actually a Japanese imitation phone, although this doesn't entirely explain the information etched on the back of the device.
Update 3: The images may not necessarily be fake. A second post notes that a device roughly matching the looks of the leaked device may actually have been sitting in one of the same photos shown in the accurate iPad photo reveal just a day before the tablet became public. An Engadget tipster with knowledge has also purportedly confirmed that the phone seen earlier is the next iPhone and that it will have both a higher-resolution screen, a sharper back camera with flash, a front camera and the same sort of micro SIM card slot as the 3G-capable iPad. A new forum update has also posted photos of the phone's interior that appear to be consistent. Both the identifying iPad leak photo and the new internal shots are included below.