Lenovo has announced their entry in to the red-hot netbook market, the IdeaPad S10, with prices at $399 and $499. This entry looks to be hitting all the sweet spots: price, style, features, size, and performance. I predict that this will be a very popular item and is aiming squarely for Asus' jugular. The S10 will begin shipping, and be available in retail, at the end of September. I've got my eye on the S10 for ALL of my kids for back-to-school. At $399 / $499 for these features, you just can't go wrong. Look for an InkShow in early September.

Let's cut right to the chase with specs, pictures and such:

• Red, white, and black configurations. Starts at $399 for 512mb / 80 GB HDD. The $499 model is 1 GB / 160GB HDD
• Windows XP Preloaded
• LED back light 10.2" WSVGA ( 1024 x 600 ).
• Some countries will have 9" models with different colors and Linux preloads
• 250.2 x 183 x 22.57.5 mm, around 2 lbs
• Intel integrated GMA 950
• Intel Atom N270 CPU 1.6 ghz & Intel 945GSE - 533 mhz FSB, 512k L2 cache, 1 core
• 2.5" HDD's, 5400 rpm
• Up to 2GB of memory, DDR2 400/533
• Battery: 3 hours on 3 cell, 6 hours on 6 cell
• Integrated 1.3 MP camera
• 2 speakers
• Multi-Touch Pad, 85% full size keyboard
• Integrated Wireless, Ethernet, Bluetooth
• Express card slot
• VGA
• 2 USB
• 4-1 multi-card reader
• Shipping and available in retail at the end of September