Canon has definitely been busy preparing new products. Today, they did not just announce a new HD camcorder, but also two new digital cameras to expand even more their PowerShot line-up. The new PowerShot S5 IS and PowerShot SD850 IS are both digital ELPH cameras which share some features like a DIGIC III image processor Optical Image Stabilization (OIS), Face Detection technology and an 8.0 megapixel resolution. Besides these similarities these cameras are very different, the PowerShot S5 IS is a full size camera with a 12x optical zoom lens, while the SD850 IS is an ultra-compact model with a 4x lens.

The S5 will retail for $499.99 and will be available the first days of July, 2007. The SD850 will be $399.99 and you can expect it to hit stores mid-June.