By now, I think we can agree that obviously this is an altered photo. Tom you are correct in your post about adding and then erasing an image. Robert alluded to a simple answer and this seems to be the case.

However, the question or mystery then becomes..as Mike so correctly pointed out that since this photo was published 21 years ago, then how could it show the altered smart phone. If what I looked up is correct... quote..'' The first phone of any kind with a large capacity touchscreen was the LG Prada, announced by LG in December, 2006''. 18 years ago.

The original that I have seen is showing a mans wallet (opened and held lengthways in Jim's left hand) and what may be a business card that Jim and Bobby seem so tickled by. Hope some of this makes sense, I will gladly stand corrected !!