OK, this one's just weird.
Essentially, it's a monitor of sorts for your phone that turns it into a full-size tablet when "docked." I guess it's a nice way to get both a phone and a tablet with 1) a slightly lower up-front cost and 2) only a single data plan.
I have my doubts on this one. Even so, it's nice to see ASUS pushing the envelope a bit by coming out with a nice variety of concepts. It'll be interesting to see which ones survive.