Cowon is getting ready to drop on American shores one hell of a new portable media player. The Cowon Q5, expected to debut by end of the second quarter of this year, will be priced at around $500 for a 40GB configuration and $550 for a 60GB unit.

The Cowon Q5 is packed with more features then you can shake a stick at. For starters, it stuffs in three wireless connectivity options: Wi-Fi, Bluetooth and HSDPA. Using the Wi-Fi or HSDPA integrated options, the Q5 can let a user browse the Web wirelessly through the device’s built-in Windows CE Internet Explorer browser. The Bluetooth option, meanwhile, lets one wirelessly connect and share data with other Bluetooth-enabled devices such as mobile phones, laptops, PCs, printers and digital cameras.

Beyond wireless functions, the Cowon Q5 still has a laundry list of functions it performs. These include: a 5″ touch screen display, Microsot Windows CE 5 Professional as the operating system, an AMD Alchemy Au1200 processor, built-in stereo speakers, a FM tuner/recorder, optional GPS navigation ($200), DVR functionality, direct video transfer without the need to transcode video files on a PC, a voice recorder, video out up to component video level quality, photo and document viewing, USB 2.0 support, a rechargeable battery which offers 13 hours of audio or 7 hours of video playback, enhanced sound options, in-line audio recording, support for various audio file formats (MP3, WMA, AC3, ACC, FLAC, OGG) and support for various video file formats (AVI, ASF, MPEG, MP4, WMV).

[via Gizmodo and Laptop Magazine]