Well, sort of real. It's only a concept right now and there are no plans to put it into production but the flexible OLED display is more than just for show. When you twist the phone, it can scroll through music and pictures. CNET also says that "bowing it inward or outward zoomed photos in and out or paused and played music". That obviously sounds like a lot more work than just swiping a screen but flexible controls does give room for... flexible controls (there are more options than just what's on the screen).
When can I buy this, Nokia? Check out the video CNET shot of it in action: