You're paying for the screen. It's touchscreen AND it has the highest pixel density of any laptop on the market so far. It doesn't sound like much but there's a lot of money in mass producing stuff like that.
It seems to be a beautiful machine, but it's still only ChromeOS.
I'm trying to think who'd actually buy it though, to sort of people who buy Vertu cell-phones and Louis Vuitton handbags? It would be a waste of time trying to sell it as a luxury product in China.
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