Before we let that excitement get out of hand, know right now that this sucker is going to cost you at least $1,195. That's for the aluminum version. If you want the lightweight titanium body, it will run you $1,595. The unlocked multi-band smartphone has a 5.7-inch "professional holographic display" that can show 2D, 3D, and "holographic RED 4-view content," all without the need for glasses.
The Hydrogen One, as it's called, uses a proprietary "H30 algorithm" in the OS to convert stereo sound into "expansive multi-dimensional audio" that wiill simulate 5.1 surround sound when you're using headphones. The phone can also be used as an external monitor and interface for several of RED's cinema cameras, and the phone itself can be expanded via modular components to become a better shooting and filmmaking tool.
As more details emerge, it will be interesting to see how this thing stacks up as a phone.