The $100 laptop looks like it will be a reality very soon. The idea being tossed around being that the Western world will purchase 2 machines with 1 of them going to a child in a developing country. Sort of like a Digital Sponsorship. Nicholas Negroponte, chairman of One Laptop per Child project, explains:
The proposed $100 machine will be a Linux-based, with a dual-mode display—both a full-color, transmissive DVD mode, and a second display option that is black and white reflective and sunlight-readable at 3× the resolution. The laptop will have a 500MHz processor and 128MB of DRAM, with 500MB of Flash memory; it will not have a hard disk, but it will have four USB ports. The laptops will have wireless broadband that, among other things, allows them to work as a mesh network; each laptop will be able to talk to its nearest neighbors, creating an ad hoc, local area network. The laptops will use innovative power (including wind-up) and will be able to do most everything except store huge amounts of data.
Check out the Wiki dedicated to the project.