The I-1 ring flash is made up of 12 individual LEDs. 8 LEDs (1 red, 7 white) provide the main light source and give status indications - these are supplemented by 4 smaller LEDs. When you take a photo, all 12 LEDs will flash at once, to provide a bright but soft light.
As well as lighting photos, the ring flash also gives you information about the camera’s current status. You can use the ring flash to see how much film is left in the pack.
To check how much film is left in the pack, simply turn the camera on. To do so, turn the control knob counter-clockwise until the yellow lines on the control knob and shutter button line up, and the filled circle symbol is at the front. When the camera is on, the ring flash will light up. The number of LEDs which light up corresponds to the number of shots you have left. So e.g. if six LEDs light up, there are six shots left in that film pack. If you have used up all 8 shots in your film pack, or if there is no film pack inserted in the camera, then the red LED (top) will blink rapidly when you turn the camera on.