If rumors are to be believed then the Samsung Galaxy S III and iPhone 5 will have Liquipel treatment. That is to say the phones will be water repellent.

Its an impressive technology where the system coats a phone with a near-invisible compound that can block out almost any liquid and moisture. Thus making them less susceptible to liquid/moisture damage.

At CES 2012,  the liquipel coating technology was demonstrated by HTC. In the video below you can see HTC Thunderbolt submerged in water and still its running fine.



Liquipel currently offers its coating technology directly to consumers via a mail-in program, charging between $60 and $80 per device.

Source: todaysiphone