Zoho isn't shy about its new app's target. Right there, at the bottom of Notebook's official product page, is a clear message saying, "Looking for an alternative to Evernote?" There's even a whole page dedicated to comparing side-by-side shots of Notebook and Evernote and telling everyone that although Notebook doesn't have everything now, it's on the right track.
So what exactly does Notebook have? Notebooks, ha! Obvious joke aside, you can create text notes, images, audio notes, and checklists. Then change their main color, group them into notebooks with assigned cover images, reorder them, move them to another notebook, search them, and share them over email or SMS. Notes get synchronized for free to an unlimited number of devices and there's a tablet interface so you can use it across your phone and tablet too.
However, Notebook is missing a lot of things now. There are no tags, no collaboration between users, no web app, no Chrome extension, no image editing or annotation, and so on. Compared to Google Keep, which let's be honest is a much closer competitor to Zoho's Notebook now than Evernote, Zoho's lack of collaboration is damning in my opinion, and the rich web previews for links are missing, but its gestures are interesting and I have to say I much prefer the way notes are similarly sized and well aligned compared to Keep's mess of a column layout. (You seriously don't know where to look for the start of a new note in that visually crazy design.)
Notebook is available on the Play Store now as well as the iTunes App Store. As mentioned above, it's completely free across all devices and it's ad-free as well. Worth a try if you don't like Keep or you're looking for a simpler Evernote alternative.