This is being shown at the Hong Kong Book Fair. According to Eamonn Fitzgerald:
Kiwa Media, a New Zealand company, is displaying its QBook, an iPad application that converts children’s print books into multilingual, interactive digital versions. Readers can point at a word and the app will pronounce it. They can also use their fingers to colour in the books’ illustrations. Tap the screen and a pull-down menu offering English, Mandarin, Spanish, German and other languages appears. The text is automatically translated.
