Red Digital Cinema has announced three new products at NAB and is also offering a trade-up scheme for those who invested in the Red One -- the first of the Red cameras.

Scarlet has been described as the 'pocket Red' and will feature a 2/3-inch 3K Mysterium sensor and will be capable of shooting from 1-120fps. It will feature an 8-x-2.8 zoom lens – which is not interchangeable – full auto and manual modes of operation, FireWire 800/USB 2.0, a still image capture mode, and will be compatible with many of the accessories of the Red One digital cinema camera. This miniature Red will shoot images suitable for cinema projection and will sell for the "unimaginable" price of $3,000 (around £1,530).

Red Ray is a playback unit which enables one to play 4K, 2K, 1080p, 720p and SD direct from DVD or SD card. Users can plug the Red Ray into a viewing device, such as a 4K projector, and the images are fed straight out Red Ray onto the "big" or "small" screen. Simply choose the standard you wish to play back at.

Epic is a 5K digital cinema camera, upping the quality from the 4K Red One. It will be smaller than the original Red One, and features a full frame S35mm New Mysterium X sensor, shoots at 1-100fps, up to 100MBps Redcode raw recording to Red Flash, two XLR inputs, HD-SDI, HDMI, FireWire 800/USB 2.0 and will weigh 6 pounds. Expected price for the Epic is $40,000 (£20,385).

Those who purchased the original Red One at $17,500 (£8,918) will be able to send their original camera back to Red and trade up to Epic, and receive the full cost of their original Red One ($17,500) to be deducted from the $40,000 price of the new model.

Expected delivery for Scaret, Red Ray and Epic is early 2009.