That universal standard already exists, it's called Bluetooth!

What that video shows me is devices interoperating wirelessly and seamlessly, such as a phone and pocket computer, or pocket computer and watch, or phone and watch/bracelet etc. This is all possible today, using Bluetooth. Palm called the Foleo a companion device, and while their implementation was questionable I think the concept is on the money. Nokia have the capability to bring this concept to market on a much larger scale than Palm.