Here's all the details in Korg's own words...
The iKaossilator is an expressive music synthesizer offering 150 diverse sounds, combined with a five-part loop sequencer for creating multi-part tracks. As with all Korg Kaoss products, the iKaossilator is controlled by touching, tapping or stroking its X-Y touchpad with the user's finger. This intuitive form of control is instantly rewarding, and allows users to quickly create music regardless of their instrumental training.
Generally speaking, moving the finger across the iKaossilator horizontally will control the pitch, while vertical movements will control various synthesis and sound parameters. The ability to choose one of 35 musical scales and select a musical "Key" or "Root" lets users easily play musical phrases with no wrong notes. The scales range from traditional major, minor and blues scales to more ornate Ryukyu, Spanish and Indian Raga scales.
The 150 ready-to-play sounds produce a broad range of dance music styles including hip-hop, house, techno, dubstep, new disco and electro. Sounds are divided into popular categories – the synth Leads and synth Bass sounds one would expect from a synthesizer, as well as Acoustic sounds, sounds that simulate piano or guitar Chords and even the popular Sound Effects used by DJs. The Drum sounds provide complete patterns that can be played and manipulated through finger movements on the touchscreen.
The loop sequencer allows the recording and layering of up to five musical parts to create a "track." The user would simply assign a loop such as synth, bass, chords, sound effects, or drums to each part. Fifty loops created by professional musicians are included in the iKaossilator to get things started quickly. The loop sequencer is also a great feature for using the iKaossilator in a live performance. The Mix Play feature makes it easy to enjoy live remixing; switching seamlessly to another loop or extracting a specific part from another loop as the playback continues.
WIST (Wireless Sync-Start Technology) allows wireless synchronized performances using WIST-enabled apps on two different iPhones or iPads. Korg's WIST-enabled apps include the "Korg iElectribe for iPad" Series and "Korg iMS-20 for iPad," or the hardware Monotribe when using the "SyncKontrol for Monotribe" app. Korg has recently made this WIST technology available to other developers for use in their apps such as Propellerhead's ReBirth and Retronyms' Tabletop for iPad.
Pricing and Availability:
iKaossilator for iPhone is now available for download from the iTunes App store at an introductory price of USD $9.99 (special pricing is in effect through November 30th, 2011).