given the not very positive feedback for this little gadget (don't blame the reviewer, the thing is not very eye-pleasing), however, i do find that with current phones reaching the 8mp mark (and higher soon!), it just might come in handy for those unwilling to carry a bulky SLR... source: http://www.gizmodo.com/gadgets/cellphones/telephoto-lens-for-your-phone-141114.php
No exactly replacement, but alternative. Most camera phones have poor picture quality, with teleconvertors, it will be even worse.