If you push the legs almost together, it will even hold a phone in vertical orientation.
I have a feeling this product may not be available for long (they don't even sell it in the UK), so get one or two today.
I admire design and engineering like this. So small, so light, so simple, yet so effective, strong, and nice looking.
And it's harder than one might think... I've been buying iPad stands for near three years now, and it's only now I've found one which combines all these points. I have some small ones, but they are not aesthetic or strong. I have some beautiful ones, but they are not compact or light.