Commence freak-out, everyone! Here's Google Chairman Eric Schmidt holding the unannounced-but-hardly-a-secret Moto X at the Sun Valley Conference "Camp for billionaires." You can see that's Schmidt on the right, holding the phone. And that's the phone on the left, held up to Schmidt's right ear.
Also note the perfect posture Schmidt is employing. Also known as the Graves Method, this provides the perfect amount of control while holding a smartphone. Thumb positioned properly along one edge of the device, with index finger at the recommended 3 degrees off vertical. This gives quick access to what has quickly become the most overhyped phone since the last overhyped phone.