The 2012 version of the iPod touch (4th Gen) is identical to the 2011 version of the iPod touch (4th Gen), except that it is offered in different capacities, at lower pricing per gigabyte, and with more limited operating system support for "tethering."

Like its predecessor "4th Gen" models, the iPod touch (4th Gen, 2012) resembles a "phone-less" version of the iPhone 4.

The iPod touch (4th Gen, 2012) also lacks the 3G/EDGE mobile phone networking capability, A-GPS (it does support mapping by triangulating position via Wi-Fi hotspots, though), and the digital compass, and has a lower quality roughly 0.70 megapixel rear camera without a flash, too.

Otherwise, however, the iPod touch (4th Gen, 2012) is largely similar to the iPhone 4, and includes a 3.5" 960x640 (326 ppi) "Retina display," (albeit a lower quality non-IPS one), FaceTime video calling functionality -- via Apple ID or e-mail address rather than exclusively phone numbers -- using the integrated microphone and front-facing VGA camera, iMovie editing support and 3-axis gyroscope, as well as 720p recording capability (again, using a lower-quality camera).

Like the iPhone 4, the iPod touch (4th Gen, 2012) also is powered by an Apple A4 processor but it only has 256 MB of RAM (rather than 512 MB), and 16 GB or 32 GB of storage (rather than 8 GB, 16 GB or 32 GB like the iPhone 4). Battery life is an Apple-estimated 40 hours of playback for music and 7 hours of playback for video.
https://everymac.com/systems/apple/ipod/specs/ipod-touch-4th-gen-2012-specs.html