Electrically released magnet locking mechanism

A hand-held portable electronic device housing latch and release system including a permanent magnet, a magnet latch plate, a spring and an electromagnetic coil. The permanent magnet is adapted to be connected to a first housing member of a hand-held portable electronic device and the magnet latch plate is adapted to be connected to a second housing member. A magnetic field of the permanent magnet is adapted to exert a magnetic holding force on the magnet latch plate when the first and second housing members are in a first position relative to each other. The spring is adapted to bias the first and second housing members away from the first position. The electromagnetic coil is adapted to at least partially reduce the magnetic holding force by the permanent magnet on the magnet latch plate.