'hiPhone' now a hot commodity on Taobao portal

Apple might be shocked to know some Chinese consumers are already enjoying the benefits of its latest flagship product, the iPhone 5, nearly a month before the official launch.

A hot-selling smartphone that carries the brand "hiPhone" has copied nearly every function of the iPhone and even added some new features.

Unlike the actual product from Apple, the hiPhone can accommodate two SIM cards and has a built-in radio receiver - all for the astonishingly low price of about 500 yuan ($78.30).