Sure, we've seen quite a few cheap netbook computers -- incidentally all from China -- in the past, but this new Chinese netbook beats them all in terms of its price. The Lanyu eBook LY-EB01 is a 7" netbook costing only $98.

As one can expect from such cheap machine, its not that powerful, and can be used for extremely basic computing such as web browsing.

It is powered by an ARM processor AK7802Q216 (266MHz), and features 128MB RAM, 7-inch widescreen display (800 × 480), wireless, 1800mAH Li-Ion battery, and WinCE 5.0 operating system.

[via UberGizmo]