We're not entirely sure what it's called (the picture suggests L1), but we like it. At 11.9mm thick, it absolutely spanks the V3 in the smallness stakes, and incorporates a 1.3MP camera. That aside, specs are fairly rudimentary - 1.9in 65k colour 220x176 screen, MP3 player, PictBridge compatibility, no word on memory expandability - and battery life's sure to be a little weak.
As you can probably tell, information's thin on the ground at this point. What we can tell you is that it's not yet guaranteed to be available in the UK. Exploit friends in China, Australia, Russia or Italy to get one for sure.
Check back for future developments, and click here for all things NEC.