Aug 1, 2011 17:11 GMT  ·  By

Based on leaked technical specifications, Chinese counterfeiters have begun crafting and selling iPhone 5 knockoffs for just over 100 dollars.

One device, discovered by GizChina, features a Java-based operating system, it is capable of MP3 and MP4 playback, and has Wi-Fi abilities, for the attractive price of just $108 USD.

The handset is 7mm thick (thinner than the iPhone 4 by 2mm). It has a tapered design akin to that of the rumored next-generation iPhone.

Adding insult to injury, the device is actually advertised as being the iPhone 5. It also has the iconic Apple logo on the back.

Protective cases created by Chinese manufacturers who have reportedly been in touch with sources at Apple indicate that the original iPhone 5 will look much like the fake device displayed above.

There have been many rumors that Apple’s next iPhone refresh will be an iPhone 4S.

However, such rumors have lost their strength recently, with most analysts and pundits agreeing that fall 2011 will witness the introduction of a completely re-shaped device, both inside, and out.

And there’s a lot of speculation regarding the innards as well.

The powerful A5 chip will be a part of Apple’s next iPhone, industry sources suggest.

The phone will have a bigger screen, if the aforementioned case manufacturers are right about the size and shape of the phone.

Finally, it will be released sometimes this fall, most analysts agree.

One person who is reportedly privy to Apple’s plans has told All Things D that the fifth-generation iPhone is to arrive this October.

Some reports have said Apple was forced to delay the iPhone 5’s summer launch because of the A5 dual-core silicon overheating.