One of the coolest things happening in the tech world right now is the miniaturization and rapidly deflating cost of projectors. It won't be too long before they're standard on every smartphone. For now, however, we have to rely on 3rd party devices to let our smartphones act as projectors. 3rd party devices like the MiLi Pro iPhone projector.
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The MiLi Pro is an LED projector that fits around your iPhone, encasing it like a black-and-blue cocoon. When fully unfolded, it holds the iPhone in its cradle-like embrace and projects images up to 70 inches with its flip-top projector. Gizmodo notes that the MiLi Pro only has a 10 lumen bulb, which means there's no way you'll actually get a good image at 70 inches. That's why the company recommends that you don't use it for distances longer than 40".
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The MiLi Pro will be fully rechargeable and come with VGA and RCA inputs, plus a dock connector. No information on price has been released yet, but we can expect to find out soon. The whole set-up launches in September.