Lenovo is now also entering the fast growing netbook market with the IdeaPad S10 netbook.
Update:
Lenovo just published the full press-release with shipment information and more. See the IdeaPad S10 Details here.

The Lenovo IdeaPad S10 is a 10 inch netbook with Atom CPU and 80GB HDD. The price-point of the S10 is under $500 to compete with the MSI Wind U100 and others.
Lenovo is supposed to offer two versions of the S10: one for $399 (80GB HDD) and $449 (160GB HDD). Both Lenovo S10 would run Windows XP and come in black, white, and red colors. When Lenovo will start shipping the IdeaPad S10 is not known.

Outside the United States apparently a Linux and a 9 inch version of the IdeaPad S10 will be released.
More details on PC World. See also this brief video of the Lenovo S10 on JKK Mobile.