Google Translate App 2: Real Time Conversations (CNET)
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The new update for Google Translate App (Jan 2014) can now translate voice conversations in two languages in real time, from or to English. The result, though not perfect, is quite impressive and serviceable, but you can check it for yourself: download "Google Translate" app from your mobile phone and check it out. Also useful to help you improve your pronunciation by getting instant feedback on what you're saying.

But this App also includes translation of text, voice, and images! See it on this other video.