See Apple's new special-edition red iPhone 7

Purchases raise money for HIV/AIDS programs
Posted at 9:13 AM, Mar 21, 2017
and last updated 2017-03-21 10:30:01-04

NEW YORK (CNNMoney) -- A surprise new iPhone is here -- and it's red.

Apple unveiled Tuesday a special red version of the iPhone 7 and 7 Plus, to commemorate the 10-year partnership between the tech giant and Red, an organization that helps fights AIDS. The special edition iPhones, which feature a red aluminum body, will come in 128GB and 256GB models starting at $749.

The red phones will be available in stores and online starting Friday for a "limited" time, though Apple declined to provide specific details about the timeframe.

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Apple also would not share how much money will be donated to Red through the sales of these special iPhones. Overall, Apple said, it has contributed more than $130 million as part of its partnership with Red, making the company the world's largest corporate donor to the Global Fund to fight AIDS.

The red iPhones were part of a batch of Apple announcements on Tuesday. The company unveiled a new 9.7-inch iPad with a "brighter" Retina display, which will start at $329 for a 32GB model -- the company's lowest price for a new iPad to date. Apple also announced Clips, a new standalone app that lets users create videos designed to share on social networks like Facebook and Instagram.

Apple sold 78.3 million iPhones in its most recent quarter, which was a record high. The company attributed the increase to strong demand for the iPhone 7 Plus.

Still, in fiscal 2016 Apple's annual sales declined for the first time since 2001 -- in large part because iPhone sales dropped in three straight quarters. IPhone sales make up the majority of Apple's business, and some analysts are concerned the global smartphone market is saturated.