Asus launches Padfone

Asustek Computer Inc on July 6 introduced its Padfone, a hybrid device that combines a smartphone, tablet and laptop.

Each device will cost 4,989 yuan ($783.7), 1 yuan more than Apple's 16G iPhone 4S, said Jerry Shen, Asus' chief executive officer.

"We believe all of those newly added functions are worth that additional 1 yuan to our customers," said Shen, at a news conference in Beijing.

The gadget, the world's first 3-in-1 device, debuted in the Mobile World Congress in Barcelona earlier this year. The product marks Asus's determination to explore a niche in the market with a competitive price point, halfway between mobile technology and full-blown computers.

Computer giants, including Asus and Lenovo Group, are trying to grab a share of the smartphone market and compete with rivals such as Apple Inc and Samsung Electronics Co Ltd.