Olympus announces a new breed of compact camera – the XZ-1

[CES 2011] It looks like Olympus is attempting to conquer the compact camera market with the launch of their new high-end XZ-1. This ultra-compact camera is Olympus’ first and flagship device of their new series. The XZ-1 is aimed at photographers or enthusiasts who want the portability and convenient of compact cameras without sacrificing image quality. It comes with an Olympus iZUIKO lens, the first time a Zuiko lens has ever been built-in on a compact digital camera (usually these lenses are detachable, for use with SLR cameras). It also packs an extra large, super-sensitive CCD sensor and an extremely fast TruePic V image processor to ensure you can capture great images even in low light conditions. From dusk to dawn, bring it on – the XZ-1 will allow you to shoot both high-quality images and HD videos with ease. The camera will be available in Black or White this month and will retail for $499.99. Full specs and images after the break:

• iZUIKO f1.8-2.5 6.0-24mm lens
• 3″ OLED monitor for previewing your photographs and HD video footage
• 10 megapixel CCD sensor with TruePic V Image Processor
• Advanced manual controls for experience photographers
• 6 art filters for spicing up your photographs with effects
• Live Guide for helping you set up shots
• An ultra-compact body that allows you to bring the camera with you wherever you go