Complex sentence: The 701 model will have a 7 LCD screen and will be available with 4,8 and 16GB of flash memory in place of a hard drive the 4GB model will have an announced price tag of $199USD.
Split into simpler sentences: The 701 model will have a 7 LCD screen and will be available with 4,8 and 16GB of flash memory in place of a hard drive. The 4GB model will have an announced price tag of $199USD.