There was quite a bit of controversy last week when u1 Labs did not deliver the reveal of the Ono U1 Beast phone on time, then asked for another 48hrs and then after missing that deadline, hope started to dwindle. However yesterday they released what is supposed to be the first footage of the phone in action along with a slow motion sample that is not really slow motion but just playback at 1/4th speed. However the team behind the Beast at u1 labs have promised once more that real hardware capable 480fps video will be in the device and promise a demo soon afterwards.
The video does show a functional device with a camera app that takes pictures and regular video with software slow down. This is a big step as it shows there is a real phone and not just a render or a concept or OS video captured screen.