Today during Carl Freer's Georgia Tech speech, he revealed that while his company plans to release the Gizmondo with unchanged hardware (save for a new graphics chip) to the market in the near future, the company is already collaborating with NVIDIA on a completely new circuit board for a future Gizmondo.
He explained that since the platform "could never compete with Sony or Nintendo in content," they planned to take a completely open source approach instead, promoting software development from within universities. He also added, "If we do well, our roadmap entails expanding the hardware and supporting full telephony." For the full story, make sure to catch our liveblog of the event.