The first color E Ink-powered e-reader is expected to make its debut at a Tokyo electronics show on Tuesday.
According to the NY Times, E Ink black-and-white displays can be found in approximately 90 percent of the world's e-readers, including the Kindle and Nook.
Other devices, such as Apple's iPad and the color Nook use LCD - the same technology deployed in current-gen televisions and monitors.
"Color is [certainly] the next logical step for E Ink," iSuppli analyst Vinita Jakhanwal told the Times.
"[Because] every display you see, whether it's a TV or a cellphone, is in color."
So, what are some of the advantages of an E Ink color screen?
Well, they sip significantly less battery power and are readable even in the glare of direct sunlight.
Nevertheless, it should be noted that E Ink color screens are not as sharp and colorful as their LCD counterparts, nor are they capable of rendering full-motion video.
Still, Hanvon's first product boasting a 9.68-inch color E Ink touch screen will be available this March in China for approximately $440.
If successful, the device - which supports Wi-Fi and 3G wireless connectivity - could eventually be sold in retail stores throughout the US.