In the future, mobile technology does not mean simply being able to carry gadgets with ease, it means wearing them as fashion statements. This was the topic of discussion among industry experts in the recently concluded MobileBeat conference held in San Francisco last week.

Wearable technology, defined as miniaturized mobile technology, is predicted to be woven into consumers' practical clothing. It means that gadgets might be embedded in watches, glasses, clothes, and shoes. On the flip side, apparel might also evolve as a product of technology itself. Think iJeans, or iSocks. Farfetched as it may seem, tech experts believe that this is the most logical path.

One problem raised about wearable tech is its computing capability. Google Glass exemplifies this. Although the apparel-gadget can perform a variety of smartphone functions, the processes are very limited. For example, Google Glass can only record 10 second videos as of the moment.

Smartphones are predicted to work in conjunction with wearables, according to expert. "I think that the phone is becoming more central and more important," explained an industry expert.

Financial analysts predict that the smartphone boom will not be dying anytime soon. The tech industry will be basing its next moves depending on the financial performance of the smartphone industry.