no it's not. Ifone, would be pronounced as "ee-fo-ne", while iphone would be pronounced "ee-po-ne". The "h" in iphone is completely silent. The "ne" on both words do not end in "nay" like someone else mentioned either.
However, seeing how "iphone" is a product name, it would just be pronounced to spanish speaking people just like it sounds in english. Just because it's a product name. The same applies to the brand "nike".
I have a feeling that "ifone" is just an alternate spelling for "iphone" in spanish because of the "f" sound that the "ph" makes in the english language doesn't exist in spanish.
Nontheless, the company name "ifone" should not sound the same as "iphone".
spanish is my native language, i know how they both sound