1. A new personal music player (aka: mp3 player or PMP) that is so superior and well designed that it poses a potential threat to the Apple iPod empire.
2. A personal music player that has more features, superior sound quality, a removable battery and longer battery life than an Apple iPod.
My new mp3 player is an iPod killer! It's much more than a fashion statement: it has 40 hours of battery life, non-proprietary software and 108dB SNR!
A term that cannot be properly defined because the term does not really exist.
Clem: Yo, check this new mp3 player out. It's definitely the new iPod killer.
Karl: Yeah, that must be the reason why there is no such thing and 80% of mp3 users are iPod you stupid mother fucker.