Just launched at CES from AirDroids: the $500 Pocket Drone. Looks good! APM-based and well-engineered. From the Kickstarter listing:

We saw a lot of kits out there that were powerful and flexible, but took a long time to put together, tune, and make work correctly. There were off the shelf products that worked out of the box, but were limited in their functionality. And there wasn't anything out there that was both powerful and convenient to carry. So we decided to create something that combined the best of everything we had seen, but was more elegant and accessible.

That's how we came up with The Pocket Drone, the world's smallest heavy lift micro-copter. It's as powerful as an open source kit, works out of the box with everything you need like an off the shelf product, and is easy to take with you wherever you go, without having to bring along an extra case or bag just for your drone. We've gone through dozens of iterations to create the perfect drone product that can be used by everyone.

1. Unique cutting-edge collapsible compact design

Innovative swing arm and telescoping tail frame

Folding propellers

Built-in landing gear

Built-in camera mount

Travel case included

2. Easy to fly and simple to maintain

Pick your controller system

Pilot from our included controller or bring your own DSM compatible radio controller

Control from any Android tablet or phone with a USB port

Simple, quick and inexpensive to maintain and repair

3. Lightweight with maximum payload

Flight and control is nimble, stable and accurate

Weighs in at around 1 pound

Carries an action camera like the GoPro(tm) with outer case (not included)

Capable of carrying up to 1/2 pound payload

4. Ready to fly (RTF) and quick to deploy

Comes ready to fly right out of the box

Deploys in less than 20 seconds

Quick recharge system

5. Advanced software and systems with autopilot and "follow me" mode

State of the art flight controls, algorithms and connectivity

APM compatible flight controller 6-axis accelerometers, 3 axis gyroscopes, barometric sensor (altitude)

Integrated onboard autopilot Flight planning with Google Maps

Fly by GPS waypoints

"Follow Me" mode (requires mobile device with GPS)

Altitude Hold

Return to home (RTH)

Headfree mode (orientation independent flying)

Load/Save and repeat/replay flight missions

Real-time flight data

Artificial Horizon

Altitude Heading indicator

GPS signal strength

PC, Mac and Linux compatible

Mission Planner or QGroundControl Compatible

Android compatible (tablet and phone)

iOS compatibility coming soon

6. Longest Flight times of any copter under $500

Tricopter design means longest flight times available

Up to 20 minute flights (fully loaded with camera)

Exclusive propellers engineered and optimized especially for multicopters

Built-in low power alarm

7. High quality materials and components

Professional grade build quality and workmanship

Extra durable and robust airframe

Carbon fiber key components

Highest quality components

Advanced high-impact plastic resins

Designed in the USA

8. Upgradeable, expandable and hackable

Flight controller is programmable and easy to modify with open source tools

Mobile app is customizable and configurable with open source plugins

Designed for and by open-source enthusiasts

Always up-to-date firmware upgrades as improvements in control, power and stability become available

Add real-time video transmission for FPV

Add goggles for a full bird’s eye immersive experience

9. Designed with multiple built-in safety features