Dell is famous for selling high volume at low prices. However, their products usually don't have pretty/fancy industrial designs, and they're not always as cutting edge or high end compared to other competitors-- I'm speaking of the PC marketplace.
The Dell isn't as small and slick looking, so HP probably paid more for the design and production of their unit, which they pass on to the consumer. The 1940 has Bluetooth too. HP is the biggest name in Pocket PCs, so they can charge more (that's the way the market works).
In the end, they're both good units and you won't go wrong with either one.
-------------------- Lisa Gade Editor in Chief, MobileTechReview