Is this the rumoured HTC M4, the Mini One, the HTC First insides in a One body? It might just be.
The device takes the very best features from it's big brother and shrinks them down, both in size, power and - one would assume - cost.
Swapping out the 4.7" 1080P screen for a far more manageable 4.3" 720P unit, the M4 is also said to pack a dual core CPU rather than quad core and a more compact 1700mAh battery. The camera is likely to be the same Ultrapixel unit found in the One. RAM stays at 2GB, unlike the ROM which controversially shrinks to 16GB.
Personally? I think this looks fantastic... the market needs a really desirable more compact phone and this could be it. I hope they give it a good name... any suggestions?