MTI Media Lab, in conjunction with several companies and organizations, is working on creating a $100 laptop which will be used to educate youth in many 3rd world countries.

The $100 Laptop will be a Linux-based, full-color, full-screen laptop, which initially is achieved either by rear projecting the image on a flat screen or by using electronic ink (developed at the MIT Media Lab). In addition, it will be rugged, use innovative power (including wind-up), be WiFi- and cell phone-enabled, and have USB ports galore. Its current specifications are: 500MHz, 1GB, 1 Megapixel. The cost of materials for each laptop is estimated to be approximately $90, which includes the display, as well as the processor and memory, and allows for $10 for contingency or profit.

Read the FAQ for more information here.