LG Optimus M+

I recently bought an LG Optimus M+ (which is significantly different from the Optimus M - despite the images given on many websites. Wireless Toys shows the standard optimus m and calls it the m+. the M runs Froyo while the M+ runs gingerbread)

ANyway, i am aware that this phone does not have a secondary (rear facing?) camera, but it has this odd little oval shaped bit right next to the LG logo that looks as if it would be a camera.

So if its not a camera, wtf is it?