The only downside that we've heard so far is that it will feature a resistive screen, which is operated via an onboard stylus. It also has a directional pad for basic navigation. In its base model form, it has Wi-Fi, GPS, and Bluetooth 2.1 connectivity, but you can upgrade the device with infrared and 3G options.
The LifeTablet is powered by the ARM Cortex-A8 processor, and has 384MB of RAM, and 1GB of ROM. It also includes a 3 megapixel camera, which looks like it's front-facing.
NEC has billed the device as primarily for business customers, and has optimized it as such (how, we don't yet know). They imagine companies using it for mobile sales (i.e. door-to-door sales). NEC is also marketing the device for e-reading, online shopping, and entertainment. There is no word on pricing or eventual availability outside of Japan, but we'll keep you posted. The LifeTablet looks like it would be a good balance of price and function.
source: Impress via Electronista