The Panasonic Lumix DMC-TZ1 is being billed by Panasonic as the world's smallest 10x Optical Zoom lens. It features a Leica DC lens with folded optics technology that folds down into a 112.0 x 58.1 x 40.2mm body.
In addition to it's large lens (complete with image stabilization) the TZ1 has a large 2.5inch LCD screen, 5 megapixel CCD sensor and 12.4 megabytes of internal memory. It shoots at up to 800 ISO in normal mode or 1600 in high sensitivity mode.
This is a camera that is sure to be popular for it's zoom and relative compact size. Expect to see it in stores in March for a retail price of $349.95 (USD). Source Digital Photography Blog