My First Idea - Electronic Dictionary

I have never read an English novel until i came to pursue my B.Tech in NIT Trichy. My first novel is Journey to the center of the earth which has recently been made into a film. That was a good starting point because English words used in it are simple, not sophisticated.
But when i started reading books like Lord of the Rings, Harry Potter and even Indian novels like Sea of Poppies, Enchantress of Florence, I could not understand 25% of the words used. If i start looking for meaning of each word in the dictionary (which actually used to take most of the time spent in reading), I used to loose interest in the novel.
So everytime I start reading a novel, I used to feel the need for a hand held electronic dictionary where I can just type in the word rather than looking in the hard bound dictionary. Coming to its commercial viability, as this electronic gadget requires hardly a few Megabytes of memory and simplest of processing capability, the final product may turn out to be much cheaper than standard Oxford dictionary. If required, we can include an USB port so that we can update the wordlist present in it at any point of time using desktop or laptop.