What is immediately apparent is the speaker grill on the back, rather than the bottom of the device where it is found on the Lumia 920. The rumored xenon flash is present along with an LED. Aside from the cosmetic appearance, the Lumia 928 will share most characteristics of the Lumia 920.
That means a 1280x768 4.5-inch screen, 1.5GHz dual-core Snapdragon processor, and probably the same OIS 8.7MP camera. On board storage is not confirmed, though it will likely be 32GB and probably will not be microSD card expandable.
If you compare this image closely to the leaked rendering from a couple days ago, the only discrepancy we can see is how the xenon flash is situated to the LED. Given @evleaks’ reliability, we chalk that up to “artistic error.” Otherwise, the form factor is notably different. The rear oriented speaker is certainly a contributing factor to the Lumia 928’s rumored thinness compared to the 920. The rounded back plate to the edges will also make the device comfortable to hold in the hand.
source: @evleaks via WPCentral