According to www.TodaysiPhone.com, next iPhone 5 could be waterproof. Liquipel iPhone it is just a rumor but we have take into consideration that the same guy predicted the white iPhone 4 and last iPhone 4s also. So what will be the story? Will be the new waterproofing technology implemented in the next iPhone?
For now, you can waterproof your iPhone 4S for $59.00.
What is Liquipel?
Well, it is a nano coating process ( a thousand times thinner than a human hair, you should not see any differnece ), where your iPhone is placed into a vacuum chamber and then a special coating gas is pumped. The gas molecules bind through a “patented Liquipel process “…so if you work in an environment where your iPhone is constantly in danger of getting water-damaged, the Liquipel is or will be just for you.
Note : Don’t take it for granted…it can protect your iPhone from accidental bathing, but you wouldn’t want to take your iPhone with you while surfing anyway 
Check the Liquipel in action :
