U2's Bono launched the phone in London yesterday alongside the Carphone Warehouse management team.
In addition to£10 from every Red handset sold, the companies involved - including Tesco, Virgin Mobile and Vodafone - have all agreed to donate 5 per cent of monthly revenues generated.
Bono, the co-creator of Red brand, said: 'Red is a 21st century idea. It's an amazing thing that these companies are doing, lending their creativity and financial power to the global fight against Aids in Africa, the greatest health crisis in 600 years. I think doing the Red thing, doing good, will turn out to be good business for them.'
This move is the latest from the Red initiative, launched by Bono and Bobby Shriver at the World Economic Forum in January. The idea was designed to deliver a sustainable flow of private sector money to the Global Fund to Fight Aids.
Clothing retailer Gap stocks a Red T-shirt and hopes to have as many 50 Red items in stores by October. Designer brand Armani and footwear designer Converse also have Red ranges.
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