The technology is pretty simple: an electromagnet located inside the base repels the magnet within the bulb, levitating it to a controlled height. When you're not using Flyte as a light fixture, you can outfit the base with a third party receiver to convert it into an iPhone-charging pad.
As if this bulb couldn't get sexier, the light "switch" is a capacitive sensor housed in the base. Touch the wood and it turns on, touch it again and it turns off. *Wink*