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HP are interested in making a SteamOS handheld as the Windows experience sucks
(www.gamingonlinux.com)
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You're probably right that they can just put the os on their hardware for free, but I would think they do pay something for the rights to have the "powered by SteamOS" mark. I would bet that valve has some sort of hardware partner criteria to maintain valves image if you use their mark, like their old steam machine program.