Full product ID read from the sticker on the bottom of the laptop:

 1215N-BLK035M

Primary graphics card doesn't work* (i.e. ION2). The secondary one (Integrated Graphics Controller) functions, but without 3d acceleration:

 $ lspci -vmmnn
VGA compatible controller [0300]: NVIDIA Corporation GT218 [ION 2] [10de:0a76] (rev a2)
	Subsystem: ASUSTeK Computer Inc. Device [1043:8446]
	Kernel driver in use: nouveau
	Kernel modules: nouveau, nvidiafb
00:02.0 VGA compatible controller [0300]: Intel Corporation Atom Processor D4xx/D5xx/N4xx/N5xx Integrated Graphics Controller [8086:a001] (rev 02)
	Subsystem: ASUSTeK Computer Inc. Device [1043:8446]
	Kernel driver in use: i915
	Kernel modules: i915 

* Although ION2 doesn't work, it will remain switched on and unecessarily heat the system and drain the battery. This can apparently be fixed by switching off the ION2-hardware using acpi_call at github.

More about NVIDIA ION2 Optimus Technology at wikipedia and asus.com