This Fall’s impending iPhone launch hasn’t only been a hotbed for rumors and speculation, it’s also attracted a slew of talented designers. Artists have been using their skills to form beautiful concepts of what Apple’s next smartphone may look like.

We’ve already shown you 2 amazing designs by Michal Bonikowski and Antoine Breiux, but both of them seemed a bit farfetched. However, the latest rendering floating around the web seems to be more in line with expectations for the next iPhone…

This concept comes from Brazilian graphics design student Schasiepen Martins Guilherme.  His renderings have been bouncing around Apple blogs for the last few days, so we figured they were worth sharing.

The thing that stands out about Martins’ concept, is how accurately it matches the current iPhone rumors. It sports a design very similar to the iPhone 4 and offers moderate hardware changes.

The rendering depicts a new 8-megapixel camera with full HD, which has been mentioned several times in recent reports, and a larger screen. Notice how the display is edge to edge to maintain a similar device size to that of the previous model.

Martins also believes that Apple will bump the resolution of the front-facing camera to allow for FaceTime HD. The graphics student has even repositioned the antenna to the bottom of the unit, you know, to fix that whole attenuation thing.

Overall, this concept represents a slimmer iPhone with a similar look and feel to its predecessor. And given the mounds of gossip that we’ve heard over the past several months, this thing could be dead on.

What do you think? Is this what you imagine the next iPhone will look like?

[MacMagazine via Redmond Pie]