I have seen a bunch of concepts for chargers and plugs over the years. Generally, the plugs are designs to save power and be more green. This new concept is a bit different and is designed to take up less space than your average plug with a head design that folds flat. The cord hinges at the prongs and the cool part is that it is the power switch too.
When the concept is folded flat against the wall, the plug sends power out to whatever the device is. When you flip the plug up the power is turned off. The design is cool and would certainly eliminate having to fumble for one of those cord switches or reach under the lampshade to turn a light off.
The downside I see is that once you plug this cord in behind furniture reaching it to turn the device on or off is going to be very hard. The cord reminds me of something Apple would design. The designers are Huang Guanglei, Wei Min and Jiang Zhongbiao. The concept plug only sticks out of the wall 1cm when tuned on.