This is an ingenious pencil with a clutch mechanism with rotates the lead slightly every time you put it to paper. The intention is to prevent the lead from forming a chisel shape and instead remain conical.
I haven't taken it apart, but by external examination it takes 30 (or perhaps 32) slight presses to rotate the lead one full turn.
It certainly works as intended. I like innovations, but the question is are they useful. In this case I'm sure it is, for many applications. For me, it's not, and the reason is this negatively effects my writing experience since every time I start a word the lead's sharp edge contacts the paper. It's quickly worn away, long before you've written half a character, but it doesn't feel quite right.