This is because in an announcement by RED’s founder, Jim Jannard, he has announced that due to health issues, he will be retiring at the ripe old age of 70. He also announced his retirement message that the Hydrogen project, which was the company’s approach to smartphones, would also be cancelled.
According to Jannard, “I will be shutting down the HYDROGEN project, ending a career that has included Oakley, RED Digital Cinema and HYDROGEN. I am very proud to have worked with many great people over the years who have signed on to the vision. RED Digital Cinema will continue stronger than ever with Jarred, Tommy and Jamin at the controls. Komodo is about to be launched… and the HYDROGEN One will continue to be supported in the future.”
It is a bit of a pity to see the project canned, especially when some of the features it came with sounded rather promising. However, the smartphone industry is an incredibly competitive one and we guess we can’t say we’re surprised to see another company exit the market.