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Lol, it was just a misunderstanding.  I knew S&W had been making the PPK for quite a while.  But this still has the Walther logo on it.

The question just threw me off because it was kind of old news, so I thought something new was happening. What I thought was going on was that S&W was going to make their own version of the PPK, similar to how they have their own version of the P99 (SW99).  
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