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This paper presents a stereo video codec called 3D+F which has specifically been designed to meet the low complexity requirements imposed by mobile applications while trying to be competitive with the state-of-the-art coders, such as the multi view video coding (MVC) extension of the H.264/AVC standard, in terms of rate-distortion (RD). By exploiting the stereo geometry of stereoscopic image pairs it is possible to transcode a 3D movie into a 2D movie and a 2-bit labeling. The 2D movie can then be compressed using any video coder while the labeling needs to be compressed losslessly. Preliminary subjective testing shows that the resulting quality has potential to be very competitive.