Nokia is part of the Graphene Flagship Consortium (comprising 74 members and Nokia represents the consumer electronics sector) that has received a EUR$1 billion grant from the European Union to do research and development into this amazing stuff. (Note most news agencies have misreported this grant as going solely to Nokia).
There is all sorts of speculation about what this could mean but imagine a really strong material 1 atom thick that conducts electricity and can be bent, moulded and more. While it is going to probably be expensive to make its transparency and pliability makes it ideal for roll up touch screens (from smart phone to TV size) as well as super strong and lightweight casings or components (think of replacing Kevlar or Carbon fibre). Graphene could feasibly replace silicon (leading to 1,000 fold increase in speed in chips – we will need to invent a new name as Terahertz may not cover it!)
I am not even going to try to describe this stuff – Read more at Wikipedia.
Truly amazing stuff – well until Tim Cook, chief err, cook and bottle washer immediately announced Appheme© which is 301 times stronger than steel and able to leap tall buildings and claimed that Nokia and Samsung had already infringed their patents.