Folks at Boy Genius Report have stumbled on a YouTube video published by a smartphone parts company called Global Direct Parts, in which they were comparing casing from iPhone 4 and another iPhone model, which they claim could be the CDMA iPhone, which is widely speculated to be offered on Verizon's network or the fifth generation iPhone that is expected to be launched in June.
The video has since been removed from YouTube, which indicates that it could indeed be the legitimate and was likely removed from YouTube at Apple's request.
The device has a micro-SIM slot, so if it is legitimate, it is more likely to be the fifth generation iPhone rather than a CDMA iPhone or it could support both GSM and CDMA or its just fake.
It has a similar stainless steel band as iPhone 4, which serves as the antenna system, which had resulted in the Antennagate controversy after iPhone 4 was launched due to complaints of reception issues.
However, the breakpoints in the frame between the two antenna's has move to different locations. If the parts are indeed legitimate then it suggests that Apple may be planning to tweak the design of the antenna system.
The change in position of the break point seems to have also resulted in the slight adjustment in the position of the mute switch.
Global Direct is also claiming that it will release more information on LCDs and motherboards of the device next week. We'll keep you posted if we get any further information.