Apple will introduce a special edition red iPod nano in conjunction with its participation in the PRODUCT (RED) campaign to raise funds for AIDS victims. The scarlet 4GB player will be unveiled by the philantrophic Bono of U2 and talk show host Oprah Winfrey, reports AppleInsider.

PRODUCT (RED) involves partnering with companies to donate a percentage of the sales of certain products to the Global Fund. The red nano will cost the same as the other 4GB models, and $10 from each sale will be donated to the fund. Apple joins companies like Motorola, American Express, GAP, and Armani who have created special edition (RED) products for the campaign.

The red nano looks really sweet to me. I think red should be one of the colours offered for the nano, but being a special edition I think there will be limited units. Also, check out the PRODUCT (RED) website too. I think it’s a real creative way to raise money for a cause and I’m glad that Apple is a part of it.