The TOM-019 from Hong Kong's Topway is so thin it can practically double as a shiv. At 6 mm (or 0.24 inches) and weighing a tiny 26g, the gadget offers support for MP3, WAV and WMA audio files -- it also plays MPEG1, MPEG2, MPEG2.5 and MPEG4 videos on its 1.8-inch TFT display. The media player also allows digital audio recording in an Mp3 format, has an address book and an FM radio (something that the iPod still doesn't include).
The gadget can also handle BMP, JPG and GIF images and comes in capacities of 120 MB to 2 GB -- it can also, if you've got the aim for it, double as a deadly ninja star.
No release info is available at this time.