The base version of the NEO sells for $300. It has a 2.8" VGA touch screen, a micro SD card slot, a USB port and 2.5G GSM quad band capability.
Keep in mind that this unit (the GTA01) was pushed out early so developers could begin writing device drivers, custom GUIs and some cool apps for the phone. The next revision (GTA02), which will be available starting at $450 in October, will be ready for the mass market. It will have wi-fi, 3-D motion sensors and added graphics accelerators. So this phone isn't exactly an iPhone killer -- the next one maybe a contender.
Personally this is really a mobile device for the geeks and I dont reckon that its in the same league as the iPhone. Consumers arent going after technology, they know little about technology let alone open source linux, its all down to design and user interface and thats where iPhone fits in nicely. And if you think the iPhone is a little pricey, you may want to wait for the new version Nano-based iPhone as Apple plans to launch a cheaper version of the iPhone in the fourth quarter that could be based on the ultra-slim iPod Nano music player, according to a JP Morgan report.
Latest scoop : JP Morgan retracts. Now says “No” to near term “Nano” iPhone [TUAW]