The keypad looks to be focused for video recording as well, containing dedicated buttons for zooming in and out and one for uploading presumably to YouTube. I’ve no idea what the rip cord hanging off the phone does, perhaps it deploys a parachute?
NEC also showed off other concept phones. Some had leather keypads, one had scissor like operation and yet another with a joystick button and possible a touchscreen surface.
Staring at the NEC device more, the proportions of the screen would make an ideal looking iPhone 2 or competitor. Smaller icons, narrower screen, it just oozes with sex appeal. I bet lots of folks are taking notes, NEC.
Check out all the images over at Akihabara