The riddle of the week or what the designers smoked

Iriver presented a new gadget at the SEK2007 exhibition in Korea. Officially, the name and purpose is unknown.
The appearance looks more like a piece of bent reinforcement in plastic than a player with a “Blue tooth” :)

Your opinion?

Sources:
www.etoday.ru/2007/06/irivers-mystery-device.php
www.engadget.com/2007/06/21/irivers-mystery-device