UK retailer Expansys has slashed the price on the Eee PC 4G 701 to £158.99 or just under $300 US. While the original Eee PC with its Celeron processor and 7 inch, 800 x 480 pixel display seems antiquated less than a year after it’s release, it’s still one of the most portable machines you’re likely to find for $300 or less.

When Asus first announced plans to release a low cost ultraportable, the company made the mistake of mentioning a possible $200 price tag. We still haven’t gotten there yet, but it looks like we’re one step closer.

On the other hand, Dell is expected to release its Inspiron 910 with an Intel Atom CPU and 8.9 inch display this week. And rumor has it the cheapest model will be just $299, which means you could get a much more capable machine for your $300 than an Eee PC 701. Unless the rumors are wrong and Dell will tack a higher price tag on the Inspiron Mini.

[via UMPC Portal]