"Wireless whole-home HD connectivity with quality equivalent to that achieved with HDMI" is what the press release says. By pairing a wireless transmitter with a receiver that comes built in to the X-series line of TV's, options around where you can place your TV have suddenly become much more flexible.
In the bathroom, on a bookshelf. Places where having to add a cable outlet would have been difficult and expensive are now reasonable options to put in a TV, as long as you have an electrical socket there.
Pricing and availability has not yet been confirmed, but hopefully this shows up in North America soon.