Check out this video from MicGadget from China. It's a Vimeo video.
The device claims to be an iPhone 5 clone made from the factory of where vast majority of electronics are made in China.
It isn't close to the real thing as far as the OS is concerned. It certainly doesn't run the iOS but the feel and look is very close. It's a dead giveaway that it's not the real thing because it has a stylus. Other than that, from a far, it looks like the real thing.
Check it out. And we'll come notes to see how close this thing is to the form factor of the updated iPhone. I can tell you now, I like the look of this iPhone 5 clone.
"iPhone 5" Clone from M.I.C. Gadget on Vimeo.