Hewlett Packard has announced the HP Pavilion x360, an 11.6-inch touch convertible PC that transforms thanks to a 360-degree hinge, similar to Lenovo's Yoga line.

HP is going for affordable with its Pavilion x360, pricing it at $399. It wants to act as both a laptop and tablet, able to fold into the typical tablet form-factor, laptop with keyboard form-factor, or a standing tablet for viewing media.

HP is remaining quiet on all the specifications within the tablet, but says a quad-core Intel Pentium or Celeron processors will found within, and an HP TrueVision HD webcam for video chats. There's also 8GB of RAM, 500GB hard drive, one USB port, 802.11n Wi-Fi, and Bluetooth.

"Its 360-degree hinge allows multitaskers to easily transition from laptop to tent to tablet - all at a price that is similar to an entry-level notebook," Pascal Bourguet, vice president of consumer personal systems at HP, said. 

The convertible PC will be made available on 26 February in "Brilliant Red" and "Smoke Silver" in the US, and in March in the UK for a starting price of £349.99.