Acer unveiled its Aspire Switch 10 device at an event on Tuesday, April 29, boasting similar functions to Lenovo's flexible Yoga tablet, V3 reports.

The Aspire Switch 10 transforms into four different positions - display mode, tent mode, laptop mode and tablet mode, much like Lenovo's similarly configured product.

"We spent a lot of time developing the hinge. It is a magnetic hinge that will help to guide it into the docking position," Acer CEO John Chen said at the unveiling.

Beyond its flexibility, the Acer Aspire Switch 10 arrives running Microsoft's latest Windows 8.1 operating system (OS), despite Acer last year bemoaning Microsoft's Windows 8 release, and Chen taking a dig at the struggling PC market today, V3 says.

"We are in a PC industry, and - as we all know - it is not a growing sector. We are trying to redefine our business goal beyond the PC, and are looking at mobile and the Internet of Things to help us to do this," said Chen.

The Acer Aspire Switch 10, as its name suggests, also touts a 10in touchscreen display. This comes with Acer's zero gap technology included, which the firm claims makes the screen more responsive and more vibrant than rival products on the market. The device also runs on a Intel Atom Bay Trail quad-core processor and comes with dual cameras.

There is no word on pricing or availability for the Acer Aspire Switch 10 just yet, V3 says.

The Aspire Switch 10 wasn't the only addition to Acer's laptop line on Tuesday, with the firm also touting its new Acer E Series devices, which let users pick between Intel or AMD processors and a touch or non-touch display.

The E Series laptops will be available in a range of colors, and will come with Acer's precision trackpad - allowing users to control the laptops using gesture movements.

As well as the E Series, Acer teased an upcoming model of its C730 Chromebook, which will be the first to feature an Intel Core i3 processor. No further details have been made available yet.