Nintendo is planning to launch a 3D version of their DS (the 3DS) using the same technology in Motorola's design for the phone according to AndroidandMe, so the possibility of a 3D Android phone shouldn't be too far-fetched.
AndroidGuys had this to say in terms of how the 3D function would operate:
The premise is simple - When the cover is open, the screen shows normal 2D images and operates like a normal touch screen. When you close said flip cover, the images from the screen take on a "3D-like appearance" which you can interact with. The flip cover also operates as a touch sensor for the handset.
Engadget commented that the G3 logo at the top right of the phone is a strong indication that this phone will be making its way to "China Mobile's TD-SCDMA network."
Image from HiAPK