But we're missing out the best part here: if you go to the company profile, we get to see the men at work (not kidding, these photos really belong to the company profile):
I didn't know Ledger Nano S undergoes dyeing first before being made into a final product.
Am I the only one curious and thinking about buying one to unbox and see what is that? 
Edit: Nevermind, looks like there is a minimum order buy of 50 units. Definitely won't be doing that.
Edit: Nevermind, looks like there is a minimum order buy of 50 units. Definitely won't be doing that.
Actually I'm thinking you're not the only one thinking about buying it, I think these are the possible customers that would likely buy it:
1. gadget shops worldwide (that could resold it for a price at par with the authentic Ledger Nano S)
2. naive customers (who would trade better security for better price)
I think the reason why this kinds of supposedly counterfeit products exist is that there is always a steady demand for them and Governments are doing less action to combat or discourage it or being lenient about it - especially with China, which is well known to produce any kind of counterfeit products!