Developing An Ultra Low Cost Computer For Students

In my opinion, most of the operating systems available in the market (the Open Sourced ones are included) offer MUCH MORE than what a student needs. Considering the needs of a typical student which may include but not limited to -

1. Internet Access (Basic Browser)
2. At least 5-6" screen
3. USB Port
4. Inbuilt speaker or headphone jack
5. A browser based OS (like ChromeOS)
(add more if you want)

That's it.

What would be the cost of such a computer?

Of course it would be similar to a tablet. I think touchscreens are staying for another 5 years at least.