ClassmatePC.com site is full of information about the upcoming device for K-12 schools located in emerging markets. The little Classmate PC has a 7" display, Intel Mobile processor 900Mhz, Intel 915 chipset, and wireless. If you're thinking that it sounds a bit like a UMPC or MID, then you're right. Classmate PC is another variation, but with education at the heart of it. The goal is for the device to be ultra-affordable for schools and to do this, there are of course compromises.
Students aren't limited though in being able to enter handwritten information. Pegasus NoteTaker is expected to ship with the Classmate PC -- or a variation of it, whether it is installed with a Windows or Linux operating system.
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