I-Fighting Industrial Ltd. (IFT), a Chinese electronics OEM manufacturer, tries to leverage the iPhone hype with their iPhone PMP clone FT4021.

The IFT FT4021 features a 2.8 inch touchscreen and plays MP4, MP3, WMA and WAV media files.

Other features include FM Tuner, miniSD card slot, integrated speaker, two headphone plugs, games and USB 2.0. Once Apple is back to business as usual, their lawyers might have time to take a look at this very iPhone looking portable media player.
Via the i-Fighting site.

i-Fighting is not the only one cloning the iPhone look. Meizu is making some waves since a while with their MiniOne M8 iPhone clone (see the latest photos on Engadget).