Motorola’s FLIPOUT is rumored to be arriving this month on the AT&T network. With a 700Mhz processor and quite a bit of RAM, this square little device looks like it was designed to go head-to-head against Microsoft’s KIN One.

Both feature relatively small, square screens, both have physical keyboards, and both are highly targeted to the socially-connected user.

Take a look at the FLIPOUT promotional video and let us know what you think. Since FLIPOUT is powered by Android and should be able to run all 50,000+ apps in the Market, is FLIPOUT poised to kill off KIN?