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(PRODUCT)RED is a charity that Apple has supported since the iPod days: you get a red device and some money goes to charity.

https://en.m.wikipedia.org/wiki/Product_Red

Ah, I didn't know that, thanks.

https://www.apple.com/product-red/

Unfortunately that’s the actual way it’s spelled, at least for branding purposes.

(Product)Red is not a typo. It's a weird marketing trick that Apple uses to make red coloured things seem more special.

Product Red, stylized as (PRODUCT)RED or (PRODUCT)RED, is a licensed brand by the company Red, stylized as (RED), that seeks to engage the private sector in raising awareness and funds to help eliminate HIV/AIDS in eight African countries…