While crisp graphics finally make watching video on a smartphone a smooth rather than pixilated experience, editing video with your fingertips or thumbs on a device you hold in the palm of your hand still seems like a leap. But a small Irish start-up, Movidia, says it's making post-production video editing possible on the micro level. It will make its product available to phone makers soon for testing, the company says.

The key component of Movidia's technology is its MA1110, a multimedia processor that makes real-time in-phone video post-production plausible in the power-conscious environment of a smartphone. The company hopes phone makers will parlay the processor into a new generation of products aimed at the social networking desires of avid users.

And with the phenomenal interest in social networking on display all over the World Mobile Congress earlier this month, Movidia could be leading a new direction in phone hardware. Or not.

This is the world of hi-tech, after all, and it's just a venture capital start-up right now.