Apple's new iPhone 7 is very red

Apple has released anew iPhone 7 color, making it the third new color for the latest iPhone generation. Last year, Apple introduced black (with a matte finish) and jet black colors. The new red iPhone in a matte finish is part of Apple's Product Red line, which sees a portion of the proceeds go to the Global Fund to Fight AIDS. Apple has released Product Red iPods in the past, but this is the first iPhone in this line.

Although a portion of the revenue from this iPhone gets donated, there is no price markup. It starts at $749 for a 128GB iPhone 7 model, which is the same as any other 128GB iPhone 7. People can also buy a red iPhone 7 Plus and storage capacity goes up to 256GB.

While the Product Red line donates to a good cause, introducing a new color is also a way of generating new buzz around a product. Apple received a fair amount of criticism with the iPhone 7, which many people believed was too similar to the iPhone 6 and 6s to warrant an upgrade.

While Apple has been struggling in China thanks to steep competition among China smartphone makers, it was still the largest smartphone vendor in the world during the fourth quarter last year. Although many great smartphones exist today, the iPhone remains the industry's standard bearer in many ways. And now with a bright red finish, Apple's most iconic product has a little more flair.