Paaji, here in China some local brands that rule when it comes to MP4 players are Teclast, Onda, Ramos and lesser known Ainol, Cube, Chuwi etc etc. I myself have an Ainol MP4 (there is a review here too) and i am very happy with it. All these brands (Teclast , Onda, Ramos) are being sold by MP4Nation either rebranded or with their original brand names.
But supposedly i have no clue about distributors etc for them. But yes teclast has a dedicated forum but entirely in Chinese.
But the bottom line is that all of them use a restricted set of chipset (rockchip, china chip 1600, soChip etc) in their player and most of them now support 720p videos (RMVB).
But all of them claim to support MKV 720p also which is not entirely false as in my ainol i have three MKV files all 1280 x 720 with not that much bit rate and they work nevertheless with stutter and jitter,. All these players are amateur when it comes to MKV support. But dont expect high bitrate MKV videos to play on them. But rest all is excellent.
Players with Wolfsen chips have better audio quality (i have heard cowon also uses wolfsen chips).
Here are few links:
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Ainol English Web