The video has appeared on YouTube and instead of starring Apple's Tim Cook and Jony Ive as most promotional videos do, the video entitled "Introducing the iPhone 5S" is presented by co-CEOs Mark and Bill.
Mark tells us that the S in iPhone 5S stands for Same, pointing out that millions of people will still buy the phone despite nothing having changed since the last phone was launched.
The video goes on to mock Apple's voice-activated personal assistant Siri as well as the much maligned Apple Maps and the iPhone's propensity for dropping calls.
Even the peasants
The spoof video was posted by Matthias, who has posted numerous other videos to his YouTube channel mocking everything from video games to Maroon 5.
The video goes on to talk about the iPhone 5C - Apple's predicted lower cost iPhone - saying the C stands for Cheap: "Now everyone can afford an iPhone....even the peasants."
While we're sure Apple will produce it's own official promotional video for its new iPhones, we're not sure it's going to be as entertaining as this.