Epson have launched a low spec laptop which falls in to the budget laptop price range. The Endeavor NJ1000 features a 15 inch display, Celeron M 410 processor, 256Mb RAM, 40Gb drive and a CD rom. This will sell for around 550 dollars. The model is upgradable to a Core 2 Duo T5500 processor, a lot larger hard drive and a DVD burner. No price on that, but I can tell you it will be higher then 550 dollars 
Via: Engadget