This company just made the first 'holographic' smartphone and it costs $1,600

Usually known for making high-end cameras for the silver screen, Red has launched a camera for your back pocket - a $1,600 smartphone it dubs the "world's first holographic media machine."

Known as the Hydrogen One, Red's smartphone has a 5.7-inch holographic display, which it says eliminates the need for glasses to "enjoy multi-dimensional content," otherwise known as 3-D. The phone runs Google's Android operating system, according to the company's website.

The Hydrogen One allows for viewing traditional 2D content and holographic 3D content, including games. It will also let users view what it dubs holographic Red Hydrogen 4-View content, virtual reality, augmented reality and mixed reality. 

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Apple is said to be working on adding augmented reality technology to its upcoming iPhone 8 and it added ARKit to the latest version of iOS to allow developers to build more apps like Pokemon Go.

The Titanum version of the Hydrogen One set buyers back $1,595 and the Aluminum version will cost $1,195. Red cautions it can not guarantee these prices at release time and it did not make a distinction between the two models.

It also said it may face production limitations in the future and that the Hydrogen One would be available for a "limited time." The Hydrogen One is target to ship in the first quarter of 2018.

Red is usually known for its cameras, which have been used to film movies such as "Guardians of the Galaxy Vol. 2," "The Martian," "Transformers: The Last Knight" and a host of others.