Leica V-Lux 1 Announced

Leica have announced the new Leica V-Lux 1 - a 10 megapixel digital camera with a Leica 12x optical zoom lens with image stabilisation, a 2" swivel screen. It's based on the Panasonic Lumix DMC-FZ50 but with Leica improvements:

"The V-Lux line makes photography in the compact class more professional than ever before. The all-purpose digital camera for universal use combines the best Leica image quality with the convenience of an intelligent all-in-one solution. Equipped with the 12x optical zoom and the optical image stabilization, there is hardly any photographic situation you won't be able to master with your V-Lux 1. (The LEICA V-LUX 1 will be available from the end of October 2006 on.)"