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(PRODUCT)RED is an international initiative to hasten the development of a cure for AIDS. Apple has taken part in the initiative with many of their products since 2006, with the iPod nano (2nd generation) being the first.
To learn more about Product Red, you can visit their website here: https://www.red.org/
To learn more about Apple's involvement, you can visit Apple's page here: https://www.apple.com/product-red/