I've heard that Apple is going to Launch the new iCAM Add-on for Apple iPHONE 5.
Is this true? And will iCAM be good for digital photography?
Yup, it's not real as mattdm points out. I can't see it ever being made either, as as a concept, it is fatally flawed (aside from the fact that some people will buy anything made by Apple).
The concept is a camera that uses the iPhone for its brains, yet has its own controls, sensor, and even an LCD screen on the front, so must have its own 'brains' anyway, making the dockable iPhone nothing more than the world's most expensive memory card.
No. This is a concept camera, which means someone — in this case, not even anyone affiliated with Apple — makes a digital mockup and describes how the product would theoretically work and act. It's not real.
Often such ideas have no relation to what could be engineered in reality, since they're not fettered by the constraints of reality — size, cost, battery tech, and do on. Other times the do predict the future — but don't hold your breath.
Here, the idea is clearly to capitalize on the popularity of "iPhoneography", combining the many advantages of smartphone cameras —
with those of "real" cameras:
in a way that combines the best of both. Part of the lure, surely, would be that phone upgrades would bring more power to the camera part without needing you to buy new cameras — and that you could also upgrade the camera separately if need be. This seems rather optimistic. I'm also really skeptical that the camera could be made as thin and small as portrayed, especially if it contains a sensor any better than that already in the iPhone.
I think we'd be better off with cameras designed to run iOS or Android, but made as cameras, not as a weird hybrid. Now, Apple has filed for a patent on an iPhone with swappable lenses — we may see that in a future model, but I think more likely they're just hedging their bets and exploring possibilities.