Yes, there was great disappointment that no new digital SLRs were announced by Canon on Wednesday--only PowerShots. However, I was not one of the disappointed as I love point-and-shoot cameras of all shapes, sizes, and capabilities. And Canon delivered exactly that.
Though the SX20 IS and SX120 IS are only minor upgrades to their predecessors, the G11, SD980 IS, and SD940 IS all have major tweaks separating them from their previous iterations.
What was probably supposed to be the big "oh wow" camera, however, was the reintroduction of the PowerShot S series in the form of the S90. Based off of the high-end functionality of the PowerShot G-series cameras, it has several cool features including a 28mm-equivalent wide-angle f/2.0 lens with a 3.8x optical zoom, a customizable control ring around the lens for easy access and operation of manual or other shooting settings, and RAW+JPEG capture--all in a body that can fit right in your pocket.
Read more about the cameras and check out some hands-on photos in the slide shows below.
Lastly, in case you're more into camcorders than cameras, Canon announced one new HD model, the HF S11.
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