This has been known for a while now: http://www.gamasutra.com/php-bin/news_index.php/db_area/imag...

The hardware is nothing to get excited over, but if they can sell really cheaply they might have a shot. This looks like a product for the urban middle class if anything. Consoles aren't exactly powerhouses in most emerging markets because of the dominance of piracy and PCs.

All you iPhone developers out there, take note... you could probably sell a lot more copies on this thing (assuming a successful launch).