It’s called the Kenwood ‘Media Keg’. It holds 10GB (my phone can hold 8GB, possibly even 12GB in the near future). It weighs twice as much as the Nano and, at 271 squid, is nearly twice the price too.
I’d say all it has going for it is the Kenwood brand. It will be interesting to see whether this hopelessly marketed product makes it on the strength of this.