New iphone announced, this time running Android

No, you didn't misread the headline, nor have we lied. In a case of the almost unbelievable, a Brazilian phone company has launched an Android-powered iphone (note the subtle lower case "p") - the catch being it has nothing to do with Apple.

The new phone, dubbed the "Gradiente iphone Neo One", isn't trying to fake its way to iPhone-wanting customers, nor is it attempting to steal away Apple device users with a bevy of tech specs to make you drool. Instead, it is simply exploiting a trademark it owns to use the word "iphone".

Read: Apple iPhone 5 review

Sadly, the Gradiente iphone Neo One doesn't look the part, doesn't come anywhere near the specs of Apple's own iPhone, and is highly unlikely to keep its name for much longer  (that noise you can hear in the distance is Apple's SWAT team moving into position).

For those who are interested, Gradiente's iphone runs Android 2.3 Gingerbread, has a 3.7-inch touchscreen display with a paltry 320 x 480 pixel resolution, a 700MHz processor, and a 5-megapixel camera. Disappointing, and it doesn't even look that pretty. Plus, at $599 it's not cheap either.

Meanwhile, to those who quite fancy the idea of an Android-powered iPhone, may we suggest you download Gmail, Google Maps, Chrome, Field Trip, YouTube Capture and Google search - that should pretty much give you the same experience.

Would an Android iPhone give you the best of both worlds? Or is it a terrible idea? Let us know in the comments below...