Over 10 years ago, Canon introduced diffractive optics technology with the launch of the 70-300mm DO. Today, Nikon brings us the AF-S NIKKOR 300mm f/4E PF ED VR with a 'Phase Fresnel' element that 'nearly eliminates chromatic aberration'.

As far as I can tell, this is essentially their version of DO technology. It's an expensive lens, launching at $2000. For that high price tag, but at no additional charge, it comes with an unfortunately high propensity for lens flare artifacts. It's okay though, because Nikon promises it can be (mostly) fixed with a forthcoming lens correction module for their CaptureNX RAW converter.