One of the smallest laptops these days is the UMID 315g. It's not really a netbook, but a so-called Mobile Internet Device (MID) It just weighs 315 grams.
The UMID has a 4.8 inch, 1024 x 600 pixel touchscreen, an Intel Atom CPU running at 1.1GHz/1.33GHz, with 512MB to 1GB of RAM. It features an 8GB up to 32GB SSD, a single mini USB port & a Micro-SD card slot. Also an 1.3MP Webcam is built-in.
It also has a single mini USB port, a Micro-SD card slot, and a space for a USIM card. It comes with a 1.3MP camera and can also receive digital TV in Europe (DVB-T), Korea, & Japan (DMB).
Connectivity is handled by a wide array of connectivity options, with support for HSDPA, WiMAX, WiBro, WiFi & Bluetooth.
Look here for more pictures at the Korean site Aving.
The UMID will be a available with Linux, Windows XP, or Vista. No pricing, or availability information is known yet.