Camera and lens maker Leica has announced the first model in its new series of ultracompact cameras. The 6-megapixel Leica C-Lux 1 measures a mere 2 by 4 inches with a depth of less than an inch, and it sports a 3X optical zoom lens with optical image stabilization as well as a 2.5-inch LCD screen. Leica's lenses can be found on many Panasonic cameras, such as the Lumix DMC-LZ5, and the C-Lux 1's button layout, indeed, looks very similar to that of the LZ5. Leica also claims that the C-Lux 1 will have "ultrashort shutter delay," but we'll have to test it in our labs before we can confirm that. The Leica C-Lux 1 comes out in May and will be available in silver and black versions, with a suggested retail price of $495.