Andy Rubin from Google has already started to talk about googles next operating system Honeycomb. Honeycomb from the looks of it will run on smaller screened phones and on tablets, and more importantly will be able support the highest frame rate. Honeycomb in essence will allow developers to make the same apps on android phones and tablets.
This will be a welcome change to the current scenario of needing to develop two separate applications for the two form factors.
Google is introducing a concept of ‘Fragments’, think of a fragment as a portion of the screen. so the developer will be able to choose which fragment to show and which on to hide based on the the framework. So an application may show a list and an additional panel on the tablet and may just show the list on the phone version.