What you are looking at is another cool iPhone accessory and yes it is a micro projector from none other than the Japanese manufacturer Sanwa. The Sanwa 400-PRJ011 is a micro projector specifically designed for Apple iPhone 4 and iPhone 4S models. This handy DLP micro projector has the ability to project up to 65-inch image at 640 x 360 resolution and at an acceptable contrast ratio of 1,000:1 which is understandable. The mini projector also has a 2100mAh battery that can provide up to 2.5 hours of operation time plus it can also be used to power your iPhone if required.
The not so good news about the Sanwa 400-PRJ011 micro projector is that is it currently available in Japan only and that as well for about $260 only.