My Vietnamese is terrible, but this video demo is still pretty clear. What you see is a newer version of the 4G iPhone that was bought by Gizmodo.

This iPhone surfaced in Vietnam, and may or may not have been bought on the black market for $4,000. It certainly looks legit, and in a more finished state than the Gizmodophone: The ugly screws in the base of the handset are gone, for example. However, the general design and internal features match up with the prototype seen last month, lending even more credence to the notion that this is, in fact, Apple's next phone.

The video, from the Vietnamese site Tinhte, also shows something that Gizmodo couldn't: that new hi-resolution screen. Although limited to displaying a test screen, you can see how sharp it is when the camera zooms in. And talking of cameras, you can also clearly see the front-facing webcam. The rear case appears to be made of radio-transparent ceramic rather than plastic, and the micro SIM tray slides from the side, iPad-style.

Inside, a teardown has revealed that the new iPhone is built on the Apple-designed A4 chip found in the iPad, which promises a rather powerful handset.

Between this and the iPhone-OS4-beta revelations, there really aren't many surprises left for Steve Jobs to reveal at the expected launch June 22. Sure, we still don't know the capabilities of those cameras, but we expect a boost in megapixels to around 5 MP, and perhaps 720p video, but those are just numbers. No, Steve will have to pull out something big to get our attention. Maybe, just maybe, AT&T might at last offer tethering?

11 a.m. PT update: MacRumors chief Arnold Kim has provided a translation of the video, courtesy of a MacRumors forum member

The phone may look small on video, but it's big in real life. It feels very sturdy and solid in your hand. Glass on both front and back. Back camera has flash. This new iPhone is somewhat longer than the old one. He doesn't see any way of opening it beside prying it out. The screen is locked. From his guess, he says the phone can only be keep enabling by entering a code after time intervals. The width is narrower then the old phone about a couple mm and longer a couple mm. On the right is the microsim slot. Very solid and heavier than the old phone. It's a more manly phone and look more modern than the old phone. Thank you. That's it.

iPhone 4G video [Tinhtevideo/YouTube]

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