Lenovo has launched an update to its thin and light ThinkPad X300 notebook, the X301, introducing new Centrino 2 ultra-low voltage Core 2 Duo processors which will run at either 1.2GHz or 1.4GHz speeds. Combined with support for DDR3 memory and greater storage capacity, the X301 should see some significant improvements that make it a strong contender in the ultra-portable space.

The X301 will be available with either a 64GB or 128GB SSD from Intel, support up to 4GB of DDR3 RAM memory, and include an additional DisplayPort alongside the existing VGA connection. Besides this upgrades the X301 should be very similar to its predecessor. Connectivity options include 802.11n Wi-Fi, WWAN, Bluetooth, and GPS, with WiMAX supporting models coming later in the year.

As you might expect, the X301 will cost you a pretty penny when it hits the market on August 26 through Lenovo's business partners, with a starting price of around $2,599.