Noticed this in the news a couple of days back.
Google's Project Ara
Project Ara is the codename for an initiative by Google that aims to develop a free, open hardware platform for creating highly modular smartphones. The platform will include a structural frame that holds smartphone modules of the owner's choice, such as a display, keyboard or an extra battery. It would allow users to swap out malfunctioning modules or upgrade individual modules as innovations emerge, providing longer lifetime cycles for the handset, and potentially reducing electronic waste.
Excellent timing for such a project. In fact this is how I envision the smartphone/computing device of the immediate future to be. And infact, this is what I was partly thinking of when I made the following blog-post in May 2012.
The next big thing in Tech: Separating the Wheat from the Chaff.