It occurs to me that an intermediate and less expensive step would be a bluetooth enabled interactive watch which uses the phone in your pocket (or pad in the vicinity) as the control base. This could be pulled out whenever the 'big' screen is required, with the watch display as more of a guick and continuous updating snapshot of what's up.
I too can see this for video. I'm sitting at my desk typing this, and my wrist is pointed in the general direction of my face, doesn't seem like it would take much to point the camera at it, or use face recognitian to orient the picture properly.
@a.saji – You never know, what if you could remove your watch and place it on table focusing the camera towards you. Or have a portable stand where you could place the watch on a table and start your video conference.
@Greg – yes there are still apps that will work well in the small screen. Reading texts answering calls could be some of them. The idea of having a camera and phone function for video conference is a good idea.
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