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Last year's cameras, this year's bargains

Spring time is the right time for buying a new point-and-shoot at a great price. That is, as long as you don't mind it being last year's model.

The compact 8x zoom Panasonic ZR1 is now a steal at less than $200. Sarah Tew/CNET

Every year, compact camera manufacturers announce their latest models in January and February. Many of them are refreshes or replacements of models released in the third quarter of the previous years. That leaves a whole lot of inventory for retailers to get rid of, which translates into potentially big discounts on cameras that are less than a year old.

I've collected up a dozen of these deals worth considering in the slideshow below. Several of them have had $100 knocked off their original prices; one is even marked down $150 (though that still might not be enough to get people to buy it). Most of the bargains come from Panasonic and Canon, with others coming from Sony, Nikon, and Samsung.