Philips has prior form for such a device, and the M1X-DJ bears a resemblance, functionally at least, to the company's FWP3200D. Billed as a ghettoblaster for the modern age, the unit combines three 80-watt speakers and the necessary connectivity and DJ features that set it apart from a simple speaker dock.
Once hooked-up to a Lighting Adaptor-equipped iPad (or iPhone 5, though the small screen may make things awkward), the unit integrates with the popular iOS djay app and enables users to switch between tracks on a playlist, or mix and scratch using what Philips refers to as "professional grade" platters. There are also cross-faders and volume controls.
Besides the Apple Lightning adapter, there's also Bluetooth connectivity, in addition to multiple audio jack inputs and outputs. Though other devices can share music via the Bluetooth connection, this is definitely an iOS-aimed product, and it's not clear if the DJ features will work on other platforms when using the Bluetooth connection.
The unit runs off mains or offers five hours of playback if you add batteries.
The M1X-DJ Sound System will be available from November 2013, and will set you back €399 (roughly US$525, but note that this conversion may not reflect the actual US price).