This is the X-Cap, a prototype self-opening lens cap for compact cameras. It’s a straight replacement for the removable lens caps increasingly found on higher-end point-and-shoots, and turns them into low-end point-and-shoots.
The cap offers the same auto-opening trapdoor that you get on pretty much any camera these days, and it too is activated by the movement of the lens as it moves out from the body and gets ready to shoot. But because it is removable, you can also just grab it and toss it onto a pocket when its getting in the way (when you’re using an ever-ready case, for example).
As a prototype, the cap has yet to receive anything like a price or launch date, but I know there are some of you out there who hate easily-lost lens-caps so much you’ll jump at this thing when it finally gets released. Just try to be patient.