MIT Media Lab founder Nicholas Negroponte has a plan to build a $100 PC for the developing world.
Proposed is a Linux-based, full-color, full-screen laptop using innovative power (including wind-up) and to do most everything that a conventional computer will do. These laptops will be WiFi- and cell phone-enabled, and have USB ports. Current specifications are: 500MHz, 1GB memory (no hard drive). See http://laptop.media.mit.edu/