It's a fact of life: Every company gets into e-readers sooner or later. Therefore, Smart Devices has surprised no one by announcing that it will be branching off from its usual MID fare to launch one of its own. The R7 sports a color LCD (no E ink for these folks!), 7-inch (800 x 600) resistive touchscreen, buttons, and some form of storage (presumably). How's that for vague? We do know one thing, however -- seeing as how the company has been peddling the same functionality with its MIDs forever, and seeing as how the budget e-reader is the new budget mp3 player, this thing better be either really awesome in the specs department, or really really cheap.