Red Digital, the company behind the groundbreaking Red One digital cinema camera beloved of independent movie makers, is working on what it calls "a replacement for digital SLRs".

The news came in a blog posting from company founder Jim Jannard -- who previously founded the sunglasses maker Oakley -- and states that the company is "developing for late 2009, a replacement for DSLRs. Currently, we call it a DSMC (Digital Still & Motion Camera).

"While (insert code name) is not a replacement for Epic or Scarlet [the company's forthcoming 5K and 3K digital cinema camera], it is strategically targeted at the DSLR space. As Nikon and Canon release their 720P and 1080P, respectively, DSLRs with video capture... RED has a more advanced view of the future. We look forward to rapidly pushing the "big guys" along in feature sets and capabilities."

The reference to Nikon and Canon is in response to the recent launch of Nikon's D90 digital SLR, which can also capture 720p high-definition video. A model with similar capabilities is expected from Canon soon. Jannard says that the company's advantage over these companies is that it's working purely with new technologies.

"The strength of RED is in our sensor development program, REDCODE, and having no legacy platforms to deal with. That left us free to explore, develop and prepare to deliver a new platform. DSMC.

He also says that "RED firmly believes in higher resolution, higher S/N, higher DNR, higher frame rates, smaller bodies, more system flexibility, and many more options as we move forward in camera development."

Pricing info for the model wasn't even mentioned.