A Chinese firm has realized that dream. Taking the best from both the OLPC and EeePC. They ditched x86 compatibility and switched to a MIPS architecture to further reduce production costs. HiVision has managed to create a UMPC that sells right now for $120.00. They say they have refined the manufacturing process and have learned from building this laptop how to mass produce a laptop that will sell for $98.00. The new HiVision MiniNote is due out in October of 2008.
TechVideoBlog has footage of one of these Mini Notes being shown off at a trade show in Germany. They have managed to borrow a unit overnight for a while and have done a quick review on it. Overall it looks pretty good. MIPS based processor, WiFi, 1GB flash storage, it runs Linux, has 3 USB ports, Ethernet, SDHC card reader, audio in and out, , multi-tabbed Firefox browser support and Abiword for word processing. Running a custom Chinese Linux distrubution named Xip.
Overall performance seems snappy and no problems connecting to WiFi. Other than the lack of a webcam and the Adobe Flash Player it seems perfect. For $98 it looks like quite a value."