It's the first handset to feature optical image stabilization -- the floating sensor and lens enable ultra-stable video recording and phenomenal low-light stills.

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Highlights include a new imaging sensor for improved image quality, powerful optical zooms, expanded Wi-Fi functions, and unique viewing and sharing features.

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With this in mind, the PowerShot ELPH 330 HS digital camera builds upon the success of the PowerShot line with built-in advanced wireless capabilities to easily share high-quality images captured with an impressive 10x optical zoom lens and 12.1-megapixel High-Sensitivity CMOS image sensor.

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The superior telecentric optical design improves image quality throughout the frame by passing on information about subjects to the sensor.

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It touts an impressive array of features including the HS SYSTEM incorporating a 12.1-megapixel high-sensitivity CMOS sensor and DIGIC 4 image processor, 1080p Full HD video and a 5x optical zoom lens.

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Rounding out Canon's new PowerShot lineup is the PowerShot A2500 digital camera, which includes a 16-megapixel image sensor and DIGIC 4 Image Processor, as well as a 28mm wide-angle lens with 5x optical zoom that can extend out to 140mm at the telephoto end.

ENGADGET: Canon PowerShot A2500, ELPH 330 HS, 115 IS point-and-shoots debut ahead of CP+