While randomly searching eBay for useless stuff I could buy, I came across this mobile (cell) phone/UHF-VHF handheld radio - thought it was a pretty interesting and unique idea:
The Puxing (yeah, I know) PX-D03.

It's fairly new on the market - original release was spring time and I've not been able to find any online reviews, just a couple of 'un-boxing' videos on YouTube.
The front section is the mobile phone and the screen is the radio interface and the radio transmitter (?) clips onto the back of the screen - you can remove the radio section and clip on a plastic cover and just have a mobile phone. The phone and radio have independent batteries. Here are some specs. on the phadio? mobeld? radiobile? cellueld?...
Mobile phone:
Network Frequency: 850/900/1800/1900MHz
SIM: Dual SIM
Screen: 2.2 inch QCIF screen: 176*220
Camera: Built-in 0.3 Mega pixel camera at front
Platform: MT6223C
Flashlight: Yes
Handsfree: Yes
Mobile Internet: WAP
Messaging: SMS / MMS
Memory: NOR FLASH 128Mb+PSRAM 32Mb , support 2GB TF card to expand memory
Multimedia: FM Radio, Camera, Image viewer, Video player, Audio player, Sound recorder
Pre-loaded Apps: Calendar, To do list, Alarm, Calculator, Unit converter, Currency converter, World clock, E-book reader
Languages: English, Chinese
Dimension: walkie talkie phone: 11.3x5.2x0.8CM.
Phone weigh: 58.5g, phone+walkie talkie weigh: 177g.
Walkie Talkie
Frequency Range:
UHF: 400 ~ 470MHz
VHF: 136 ~ 174MHZ
Frequency Step value: 5/6.25/12.5/25KHz
Frequency Stability: 2.5PPM (-20 °C -60 °C)
Modulation: FM
Speaker impedance: 8 Ω
Antenna Impedance: 50 Ω
Seem like it might be a nice compromise, small light and it's also your phone you usually always carry. It seems like it's output is 2 watts, most handhelds are 4/5 watts.
So, cool toy? Useful tool? Something to play with while bored in a waiting room?