The video corroborates perfectly with all the rumors of the handset that we have heard until now: repositioned antenna lines at the rear, larger camera hole at the rear, redesigned volume and power buttons, no 3.5mm audio jack, and stereo speakers at the bottom. The larger camera hole suggests that the iPhone 7 will feature a vastly improved camera than the existing iPhone, which is now easily being outgunned by the likes of the Galaxy S7 and LG G5 in the camera department.
Interestingly, the dummy unit of the iPhone 7 shown in the video features a mute switch that was missing from in one of the previous leaks. Considering we have not heard any rumors or reports about Apple dropping the mute switch from the iPhone 7 from reliable sources, it will be safe to say that the original rumor was just that: a rumor.
[Source]