As reported by ENgadget:
Clearly, this is no iPod nano; since among other subtleties, it lacks a display! Still there's no denying its heritage with that big 'ol Apple logo, clickwheel, and "iPod" slapped right up front. This “4GB" player was purchased in Hong Kong for $110 -- a good deal right? Yeah, except it’s really only a 128MB flash player. Well, at least it plays MP3 and er, “MP4” files.
* photo courtesy of ENgadget