A new modular assault rifle developed by Izhmash to replace the AK-74M and AK-10x series. Chambered in
5.45x39mm,
5.56x45mm NATO, 7.62x39mm, and 7.62x51mm NATO. The prototype was called the AK-200. It's called the AK12 now because it's supposed to enter production in
2012. It may replace or supplement the AK-74M as the standard
Russian service rifle, since the Russian
government can't afford to buy AN-94s for everybody (except certain Spetsnaz groups) at the moment. The 60-round 5.45x39mm magazine designed for the AK-12
will also work in the AK-74, RPK-74, AEK-971, and AN-94, as all of these guns share the same magazine design.
Apparently some hicks also call the Saiga-12, Vepr-12, and KS-K (Karabin Spetsialny Kalashnikova- the military version of the Saiga-12) "AK-12s" because they're chambered for 12 gauge shotshells.