7 Functions in 1 Space-Saving Object

Why have a whole bunch of different household items when they could be made far more efficient by combining them into a single sleek object? When space is at a premium, it just makes sense to streamline the items we use most whenever and however we can.
The Hook7 from designer Dongsung Jung may just be the ultimate in multi-functional home objects. It combines seven of our most commonly used household objects into one rather odd-looking contraption that we could actually see fitting into a modern home.

The object looks kind of like a shepherd’s hook with a small cube at its base and a circular light about 1/3 of the way down from the top. At closer look, the little cube is actually an iPod/iPhone dock with integrated speakers. Here is where the assertion that the object contains seven functions gets a little cloudy: three of the functions (app, weather and music) require the iPhone/iPod Touch to work.

The hook that extends out from the vertical pole is meant to hold onto clothes or jackets when they aren’t being worn. The large circular clock can be moved to a horizontal position, where it turns into a lamp. The associated app controls all of the electronic functions, making the Hook7 a truly integrated piece of tech-rich furniture.
It’s easy to see the Hook7 fitting into many contemporary decor schemes, even in spaces that are especially tight, like dorm rooms. The fact that it takes up so little floor space makes it even more useful than its multipurpose design alone.
Of course, the problem with designs like these where various kinds of tech are incorporated into a single object is the fact that if one part of it broke, the functionality would be considerably reduced, going against the whole point. Would you use something like this to save space in your house?