It’s not a joke – Brazilian manufacturer IGB Eletronica SA has launched their Gradiente iphone Neo One in their home turf. The Brazilian company has registered the trademark IPHONE back in 2000 which legally means that they can sell their device under the iphone name in their home country legally. To be honest, the device doesn’t have a lot going for it – dual-SIM, Android 2.3.4 Gingerbread, 3.7-inch, 320 x 480 display, 700MHz CPU, 2GB of expandable storage, Bluetooth, 3G and WiFi. Not entirely earth shattering, but we think that there’s more to this than just device sales. Maybe the company is baiting Apple into litigation and possible settlement? Who knows.