The Video Electronics Standards Association joins the USB 3.0 Promoter Group to add DisplayPort Alternate Mode (aka "Alt Mode") to the upcoming USB Type-C standard.
Essentially, Alt Mode adds DisplayPort capabilities to USB Type-C connectors and cables, allowing them the carrying of video signals (up to 4K), SuperSpeed USB (USB 3.1) data and up to 100W of power. It will also feature adapters to support existing DisplayPort, HDMI, DVI and VGA displays.
For the technically curious, VESA says Alt Mode "repurposes some or all of the four existing SuperSpeed USB lanes to deliver full DisplayPort performance, and uses other signaling available in the USB Type-C connector for DisplayPort’s AUX channel and HPD (Hot Plug Detection) function. This enables computers, tablets, smartphones, displays, and docking stations to implement the new USB Type-C connector at both ends while using the DisplayPort Standard over USB Type-C to transmit high-resolution A/V along with USB data and power."