International Technologies Corporation announced that its MPIO FY700 MP3 player (pictured on the right) won the prestigious Best Innovation Award in the portable digital audio category, by the 2006 International CES.

The MPIO FY700 uses multi-level cell (MLC) flash technology that effectively doubles storage capacity of standard flash devices. It is capable of playing MP3, WMA, Janus DRM and ASF formats. The good news is that the FY700 uses OLED (organic LED) display - saving up on battery power as well as easy scrolling.

While the detachable strap might not appeal to too many people, it's there and can be worn either on the wrist or as a belt. Or you might just want to get rid of it and use a key-chain clip. How about a necklace?

The MPIO FY700 will debut in January 2006 in the US (pricing is not yet known). It runs on a single AAA battery with claimed battery life up to 10 hours.

MPIO FY700 Key Features:
Main Storage Type: Built-in Memory
Audio Format: MP3, WMA, ASF, Ogg Vorbis
Power Source: External Battery
Battery Type: 1 x AAA
Battery Life: 10 hrs.