At 60€, you can probably guess that it is a budget model. It's based on an ordinary 7"(800x480) screen, and it has 2GB Flash storage and a microSD card slot, but no touchcreen or wifi. But it does have support for EPUB, PDF, TXT, FB2, as well as Adobe DE DRM. It also supports a number of audio formats, including MP3, OGG, WAV and WMA. Surprisingly enough, I don't see any video formats listed.
The eBook Reader 3.0 is going to ship with 42 sample ebooks, and readers can buy ebooks for it just about anywhere. Weltbild is also supporting the device with their own ebookstore, which has around 120 thousand titles. It is very much a budget ereader, and I find it a little funny to call such a basic device "eBook Reader 3.0". It seems a little pretentious and makes Weltbild look a little ridiculous.
They're buying this ebook reader via Trekstor, a German gadget company, but that's not who made it. This design came from the Singapore based ereader company Gajah. I know who made it because I recognize the hardware. It's already shown up at the FCC as the Slick 701 ereader. The 701 has identical hardware, and it even uses the exact same menu design, which comes as no surprise.
On a related note, Weltbild will also launch the Faz tablet by the end of the year, with a retail under 200€.