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This should, in theory, provide better location positioning for apps that need it, such as Foursquare, maps, Yelp, etc.
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With a screen resolution of 1024x480, more content can be displayed on screen, in all regular apps, such as, Contacts, Google Maps, Email, Instant Messaging conversations, etc.
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You can watch television, access the internet, use email, obtain weather reports, set an alarm clock, keep a calendar, use GPS and maps to gain directions, take photos, etc.
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