Somewhere between the laptop and the smart phone, the computer industry has long believed there could be a small, low-cost device that would please consumers and sell well.

The device would be more versatile than, say, an iPhone, but much cheaper and more portable than, say, a ThinkPad. The trouble is, every attempt to create such a category of computer has met with failure -- until now.

 

Netbooks, The Laptop-Smart Phone Compromise

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Walt Mossberg gives an overview of netbooks,