There are already quite a few pico projectors on the market with more to come. According to Chris Chinnock, president of research firm Insight Media, there is "huge" interest in the segment. He forecasts that the pico projector market could reach 30 million units by 2012.

AAXA Technologies' P1 microprojector weighs in at 6 ounces and is no larger than a typical PDA, but is able to project a usable 12 lumens at a resolution of 640 x 480. AAXA touts the fact that, unlike conventional lamp-based projectors, the P1's LED lamp never needs to be replaced as it runs for 30,000 hours.

According to the company, the P1 is the first pico with onboard memory -- 12 GB -- plus a microSD reader. Multiple input sources are accepted, including VGA, Composite, as well as direct hook-ups to iPods, iPhones, PSPs and myriad cell phones. The onboard file menu and decoder is able to play all media formats including MP4, AVI, WMA, JPG and GIF. Battery life is rated at 45 to 60 minutes (depending on speaker use). The P1 has an MSRP of $239. Included with the projector is a battery, composite input cable and charger. iPod/iPhone, PSP and other input adapters are sold separately.