Photo Credit: Matthew Wakem A side view of the RED 5K Epic prototype showcased at the NAB Show.

As early as last year, when RED announced its revolutionary RED One video camera, there were already speculations about a pocket-sized version. Would it be HD? Would it have interchangeable lenses? Just how would it compare to its older sibling—especially in price?

RED kicked off the NAB exhibit answering all those questions with the announcement of Scarlet, a 3K resolution professional pocket-sized, fixed-lens video camera to be released in early 2009 at a retail price of under $3,000 (which incidentally is at least half the price of its Sony, Panasonic and Canon counterparts, with a much higher resolution).

Touted the "little brother" of RED's original release, the RED One, Scarlet's target audience is everyone from the soccer mom shooting home movies to the professional filmmaker. And RED's spokesperson Ted Schilowitz claims that a "big movie" will be made using Scarlet. Ted will answer more questions about Scarlet in a Q&A with PDN Gear Guide.

Another announcement from RED is the 5K resolution Epic, a more advanced version of RED One. Epic boasts a full-frame S35mm new Mysterium X Sensor, the ability to interchange lenses, with a still image size comparable to most high-end pro digital still cameras. Epic is also scheduled for release in early 2009.

The last announcement from RED is the RED Ray, a video player which plays 4K, 2K, 1080P, 720P and SD from RED disc and also plays native RAW R3D files from a compact flash.