Remember the Gizmondo? Probably not. The only thing I can ever remember about this ill-fated handheld is anincidentinvolving an executive of the company which produced it crashing an incredibly expensive Ferrari and then going to prison.

Regardless of its utter failure to create any sort of foothold in the market, plans were laid for anew Gizmondo handheldto be released this month. Due to difficulty in securing funds in the current economic situation, however, those plans have been shelved until 2009.

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Since there’s no rush to get the device to market, Media Power is making some design changes with their newfound time. It will still be running your choice of Google Android or Windows CE, but the handheld will now be a combination gaming device and smartphone.

If the new Gizmondo ever sees the light of day and you happen to be one of the five people on Earth who actually has one, there’s more good news for you. Media Power will be offering owners of the first handheld a free upgrade to the Gizmondo 2.

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[ViaKotaku]

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