sniff sniff, I smell marketing bullshit! Yes it may float but only for X amount of time. BUT LOOK! it's dust resistant, woo hoo i'm buying one, can't let any of that there dust in my cell phone.
here is the info from the site:
Model #: Cat#: DSAU_E6837
iFloat Unlocked Mobile Phone
The iFloat Unlocked Mobile Phone is the world's first mobile phone to float in water. The iFloat can be fully immersed in water at up to one meter for up to 30 minutes. It is dust resistant and has passed drop tests from 1.6m heights and you have a mobile phone that takes about all the punishment that you can hand out.
The iFloat also offers a handy in-built torch and FM radio as part of its feature set. At 111 x 49 x 20 mm and 86g it is also extremely portable and you'll get up to 6 days of standby time or 3 hours of talk time from the battery.