Second, the knockoff iPhone 5 seems like it would fit nicely in the leaked cases that have found their way to the internet in recent weeks. Cases are historically good hints to the actual design of a new iPhone.
Third, rumors about a rounded back are also represented here, though the rounded front section is completely new. TechCrunch hypotesizes that this could be some artistic license on the part of the cloners.
Slashgear notes that this knockoff runs for 699 Yuan or $108 and "it runs a JAVA-based OS, plays MP3s, connects via WiFi, and has a storage capacity of 64GB. It also has a camera and a flash with a body that’s only 7mm thick".
It's certainly no iPhone 5, but the design seems too polished to originate outside of Apple. There's no gurantees until Apple officially unveils the new phone this fall, but we wouldn't be surprised if it ended up looking very similar to this cheap knockoff.