Pentax has announced the new ultra-compact Optio S7, almost a year since the Optio S6. This new camera features a seven megapixel sensor with high sensitivity up to ISO 1600 (at 4 mp). In addition it also features Face Recognition AF & AE, a 2.5" LCD monitor, DivX Movie Mode and support for the new SDHC card format. The S7 will be available in September for under US$300.
http://www.dpreview.com/news/0607/06072401pentaxoptios7.asp
http://www.dpreview.com/news/0607/06072401pentaxoptios7.asp