Canon have announced the new 8 megapixel Canon Powershot S5 IS, an update to the Canon Powershot S3 IS, it features a 12x optical zoom lens with image stabilisation, a swivelling / rotating 2.5" screen, ISO upto 1600, and VGA video recording with stereo sound, available in June:

"May 2007: Canon today announces the launch of the 12x optical zoom, 8.0 Megapixel PowerShot S5 IS. The new compact inherits optical Image Stabilizer (IS) technology, professional-grade optics and extensive movie functions while introducing a host of new features designed to increase the photographer’s success rate.

Powered by Canon’s DIGIC III image processor, Face Detection Technology i

mproves focus, exposure and flash output for people shots while the new Red-Eye Correction feature effectively solves red-eye problems in captured photos. An increased sensitivity range of  ISO 80-1600 complements the optical IS system for extended low light performance."

Check out The Canon Powershot S5 IS Video Review by Cameralabs.com on YouTube!