3M Co. is set to make a pitch for the hearts and wallets of the technorati, with a mobile projector the size of a matchbox that can be hooked to cell phones, cameras and laptop computers.

The soon-to-be-launched product projects high-resolution images as wide as 50 inches.

"Our innovation is really in the light engine for it," said CFO Patrick Campbell, who showed the device to investors Wednesday at the Citigroup Industrial Manufacturing Conference in New York City. "We are currently working with one of the leading consumer electronics companies. I can't tell you who that is until they launch the product. But this could be a high-growth segment for us."

The device will fall under 3M's display and graphics division, and is expected to become one in a series of "emerging business" innovations that spurs growth. With $24 billion in sales and $4.1 billion in earnings for 2007, 3M expects earnings to grow 10 percent this year, Campbell said.

Chris Chinnock, president of Insight Media, said 3M is one of a dozen companies racing to get a mobile projector to market.

Motorola, Samsung, X-Play, 3M and cellular phone companies all want a slice of this potentially lucrative market, which is expected to reach $2.5 billion by 2012.

"In 2008 you will see a trickle of these in the market, maybe 400,000 to 500,000 units," Chinnock said. "In 2009, that could go to over 2 million, according to our expected forecast. And it could go to 16 million units by 2012. You don't need very high penetration numbers to get there." His electronics research firm previewed 3M's product during the Consumer Electronics Show in January.

Insight Media predicts that "companion" projectors such as 3M's could sell for $300 to $400 at first, and fall to $150 in five years. Guessing the price for "imbedded" systems -- those built into cell phones, cameras, games and other electronics -- is more difficult, Chinnock said. Some cellular service providers probably will give consumers the devices at a steep discount or even for free, provided they sign service contracts.

The various projection developers still need to improve the sharpness of their offerings, Chinook said. The images they produce now show best when lights are off or very dim.

While a mobile projector could become the next hot holiday electronics item, it won't be 3M's only hope for new growth this year.

"We are no longer as dependent on one leg of the operation to drive growth," Campbell said. "We continue to strengthen" and diversify across all six 3M divisions.

Other products that will drive growth include 3M's digital imaging system for dental crowns and bridges, Filtrete air filters, window films, solar panel components, radio frequency ID tags and possibly high-capacity conductor cables, Campbell said.

3M generates 63 percent of its sales outside the United States, and Campbell said that could go to 70 percent.

Dee DePass • 612-673-7725