The Samsung SCH-S250 is the world's First 5 Megapixel Camera Phone.

Update (Oct 20)
It is rumored that the the SCH-S250 will have 90MB of memory and that it will be able to play mp3 music files. There is also an integrated digital camera.

Update Oct 21 : Samsung has launched it.

Other Specs
• 320 x 240 screen (16.7M colors)
• TV-out
• MMC Memory Slot
• QVGA video recording