From the site: Giving users a full interactive Internet experience anytime, anywhere by combining the advantages of notebooks and smartphone.
Will feature a 4.8-inch display, WiFi, 3.5G (such as HSUPA), and will be driven by (surprise!) Intel’s Menlow platform. The device will apparently consume less power than a UMPC.(they don’t say that there is a iPhone like UI;-))
Looks like they are copying Lenovo: