Based on an Intel Atom chipset, the device apparently will be "affordable" (OpenPeak's claim), come with a 7" LED backlit LCD screen, 3G, WiFi, Bluetooth connectivity, an HDMI port for video playback, integrated speakers and what appears to be a clone of the iPhone icon system - no word on the actual operating system, but I'd guess something based on Android.
No doubt an eReader will eventually be available, and at 7" it's an interesting alternative to the iPad - should it ship at a reasonable cost.
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