Looks like Lotus, a division of International Business Machines, is launching a new hosted email service called iNotes that costs $3.75 a month and comes with 1 GB of storage space. The email can be accessed via webmail POP3, IMAP and supports IMAP IDLE for mobile devices. Google’s Gmail, by comparison, comes with about 25 GB of storage space. IBM, according to sources, has been selling this service for the past few weeks and the web site for LotusLive, the online collaboration offering, looks open for business.

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