The UMID M1 mbook MID is just barely out of the gate and already the Korean company is perfecting ideas on the Atom-based clamshell's successor.
In the same proposal document that revealed the M1's forsaken mouse pointer, I found some general details about a second-generation device tentatively called the M2. Though nothing should ever be considered final until retail versions begin shipping, the UMID M2 as it's being envisioned today (the proposal is dated Feb 2009) would pack a sub-3" display, HSPA, and WiMAX into a slim body. You can see the word "smartphone" in the roadmap image and the word "VoIP" above that, so it's unclear whether the M2 would actually be a bona fide smartphone (possible given the screen size) or if it would just have VoIP functionality like a lot of other gadgets.
On a different page of the proposal, there's mention of a 180-degree swiveling screen for a second-gen device. It seems a little unlikely that this feature would pertain to the same small display destined for the M2, but when a document all about the UMID M1 includes a roadmap that lists the M2 and cites a "2nd version" with a swiveling LCD, it's tough not to assume that the two are connected.