Coming from the womb of Philips' Research Labs, Liquavista is working on a full color ereader. Specifications aren't offered as yet, but you can tell by the picture above that it's very much angled at magazine and newspaper reading.

Building upon their LiquavistaBright platform, the new reader uses their LiquavistaColor technology for that full color screen and "electrowetting" display technology.

The ereader prototype sounds pretty promising for now, but with plenty of ereaders being let out of the bag this week, Liquavista's conservative 2010/2011 launch estimate will have to be brought forward to actually gain any traction. Particularly with tough competition from that little-seen Nook. [Liquavista]