Chinese for "life force," Qi is pronounced "chee." It's also a new inductive charging standard developed by the Wireless Power Consortium (it allows you to charge a device by simply laying it on a "transmission" pad). In theory it might seem like a good marketing ploy to name something with a term that requires a phonetic English translation, but in practice, it isn't.
Note: More Qi-enabled phones are supposed arrive this year, but Qi has been slow to take off. HTC, Huawei, LG, Motorola Mobility, Nokia, Samsung, and Sony are working with the standard.