In a typical handheld/portable embedded system device Battery life is a major concern in design of H/W, S/W and the features the device can support. From the Software progra
also something that is not trivial to do is reduce precision of the mathematical operations, go for the smallest dataset available and if available by your development environment pack data and aggregate operations.
knuth books could give you all the variant of specific algorithms you need to save memory or cpu, or going with reduced precision minimizing the rounding errors
also, spent some time checking for all the embedded device api - for example most symbian phones could do audio encoding via a specialized hardware