It has other names Web PC, Java terminal etc. The JavaStation from Sun is the same concept. Essentially it is a low cost computer designed to run Java applications loaded from the network to which it is attached. One or two applications are permanently loaded - a Web browser and mail reader typically. It has no discs and does not run Windows applications directly.
All management takes place via the network.
It is thus cheap to buy and cheap to run. All the management and security issues are handled centrally on the NT server - thus lowering costs considerably. Although the central server needs to be quite powerful to support many Windows terminals, the low cost of the Windows terminals compared to a PC compensates. A Windows Terminal is similar in physical terms to an NC - it is a low cost device without disc storage but it is not designed to run Java. Typical is the Winterm range from Wyse .