Ricoh Imaging has released the Theta (also called the Theta M15), a unique little digicam that captures 360° Spherical still images and videos up to 3 minutes in length. The camera works by syncing itself to a free smartphone or tablet app (available for Android and iOS). The app serves as an editor -- allowing you to change the size, shape, or composition of individual images for videos -- and as a portal to sharing your content on social networking sites like Facebook, Twitter, or Tumbler. Ricoh too has a free site where you can upload your Theta content -- theta360.com -- but there is a 5MB file size limit. Lastly, the Theta is SDK-equipped, which will allow tech-savvy users to develop their own apps.

The Ricoh Theta is available now in white, blue, pink, or yellow at a $299.95 MSRP.