The company says: "There is a trade-off relation between the spectrometer size and performance characteristics. As the size becomes smaller, the resolution deteriorates and the performance also declines. Our microspectrometer employs a method that diffracts the light after internally reflecting it one time, and is designed to exhibit the highest possible performance that achieves both satisfactory size and performance characteristics in this type of spectrometer."
"a further step forward was needed in both size and price in order to have them accepted for widespread use in the consumer electronics market... Small spectrometers can be built into compact devices. For example, we can expect to see new applications linked to smartphones or medical devices used at home."
The only company I've heard of working on consumer spectrometer products is Consumer Physics, completed its Kickstarter campaign in May 2014:
