Dubbed "Cove Point" by Intel, the reference design is a convertible PC with a touch screen, keyboard, and trackpad. For easier touch screen use, the display slides forward, and is propped up with a stand in the back. From there, the screen collapses down into a proper tablet.

(A of Intel's Developer Forum in Beijing shows the sliding mechanism at about the 1:10 mark.)

Specs for Intel's Cove Point hybrid include an Ivy Bridge processor, 12.5-inch display, two USB 3.0 ports, and an HDMI port. There's no word on weight or thickness, but the device is obviously thicker and heavier than standalone tablets. The hybrid is meant to run Windows 8.

Now for the bad news: According to Wired, Intel estimates that its will cost around $1,000.

If you're looking for both a laptop and a tablet, this price point isn't catastrophic--because you're getting both devices in one. The price is comparable to that of other . But if you're just looking for a tablet, the Cove Point's price is far above average. So it looks like Intel will need to come up with other answers to Apple's iPad.