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This looks great. Sadly, judging by the roadmap it doesn’t look like the NoteSlate will be really useful until version 2 (which adds handwriting OCR), so I hope the device can survive until then. An iPad type tablet may be a lot more fun, but I can see a £50 tablet like this being incredibly useful.

When it’s produced, supposedly by June, you’ll be able to select from the traditional white background and black foreground or go with a black background with white. Other colors, including green, blue, or red text, or a “4 colour edition” that does all of them at once, are due sometime down the road. The tablet works with touch or pen input, will offer 180 hours of battery life, and is to be fully open-source, with the initial software release supporting simple drawing, storing of notes, and MP3 playback. Version 1.5 will add PDF and text viewing, while version 2.0 will be rocking OCR handwriting recognition. The best news? It’s said to be just $99, though surely the multi-color edition will cost more. Right now it exists only as renders but with, a release mere months away and a decidedly attractive price point, we’re intrigued. Skeptical, but intrigued.

(emphasis mine) via $99 concept NoteSlate tablet does electronic ink in color, but only one at a time –

UPDATE 2011.10.19: Sadly, it seems like this product was vapourware. I still think it’s a great idea.