Phablet = Phone + Tablet
Personally, I think tabone would've been a more honest name about how stupid these devices are.
Ok, look, I get it. The iPad Mini is pretty cool, but if you're using that as a phone-- you look like an idiot. That's just the problem with phablets. They're functional devices, but nothing will ever change the simple fact that a phone is not meant to be that big and you look like a ridiculous human being. That's the definition of phablet: a thing that is cool except when you use it for half of its intended use. You decide if that makes sense.