It's made of plastic, Nintendo-white, with rounded buttons and a colour OLED display, and works as a controller for music software and a standalone synthesiser/sequencer. It's still under development, by an outfit named Teenage Engineering (who appear to be a bunch of Stockholm hipsters, with a tendency to use conspicuous Japanese translations on their web site; they also make modular studio lights and downloadable papercraft models of Yamaha motorbikes). The product is said to be 10-12 months from release, with no price yet known.