Fascinating new technology here, it's nice to see Apple at least looking at it for the iPhone.
Here's a great TED talk description/demo.
Li-Fi, often referred to as the next big leap in wireless data transfer, offers speeds up to 100 times faster than Wi-Fi. First invented by Professor Harald Haas at the University of Edinburgh in 2011, the technology sends data using visible light communication (VLC).
Researchers have achieved speeds of 224 gigabits per second using Li-Fi under laboratory conditions, which would theoretically allow for 18 HD movies to be downloaded in a single second. Other advantages it holds over Wi-Fi are less interference between devices and improved security over local networks, as light cannot pass through walls. The latter benefit also acts as a restriction and means that while Li-Fi is unlikely to ever completely replace Wi-Fi, it could be used in parallel to create more efficient networks.
Source: Newsweek
Here's a great TED talk description/demo.