Asus has been in the UMPC business for roughly a year. The company first launched its R2H at last year's Computex and showcased its T83 follow-up earlier this year.

Today, the company has announced a new UMPC aimed squarely at mobile Internet browsing. The Eee PC 701 can run Linux or Windows XP and is aimed at a wide variety of users ranging from children to the elderly.

Asus says that its new Eee PC 701 uses an Intel processor and chipset, but doesn't get into specifics. Given the small form-factor, the likely candidates are the 600MHz A100 processor and 945GU Express chipset which make up Intel's Ultra Mobile PC 2007 platform.

Also included with the device are a 7" display, 10/100 Ethernet port, 56k modem, 802.11b/g wireless, 512MB of DDR2-400 memory and a webcam. Storage duties are handled by 4GB, 8GB or 16GB of solid-state memory.

Asus claims that the Eee PC 701 can operate for up to 4 hours on its 4-cell battery.

According to PC Magazine, the Eee PC 701 will start at just $199. Availability, however, has not yet been announced.