From Apple’s press release:

Apple today announced iPhone 7 and iPhone 7 Plus (PRODUCT)RED Special Edition in a vibrant red aluminum finish, in recognition of more than 10 years of partnership between Apple and (RED). This gives customers an unprecedented way to contribute to the Global Fund and bring the world a step closer to an AIDS-free generation. The special edition (PRODUCT)RED iPhone will be available to order online worldwide and in stores beginning Friday, March 24.

I have to say, those are some gorgeous looking iPhones.