Olympus announced two new compact cameras late yesterday the Olympus FE-360, and Olympus FE-370. Both of the new digital cameras are pocket-sized and lightweight and are sporting an 8-megapixel resolution.

Here’s a rundown of the basic specs for each of the cameras:

Olympus FE-360

The Olympus FE-360 has a 3x zoom, and a 2.5-inch LCD. The camera is exceptionally thin, coming in at just .07-inches. The FE-360 comes programmed with 20 pre-set shooting modes for shooting in different lighting conditions and movie recording at 640 x 480 or 320 x 240 resolution stored in motion JPEG format. Without batteries the FE-360 weighs in at 3.5 oz. Look for the FE-360 later on this month for an MSRP of $149.99.

Olympus FE-370

The Olympus FE-370 is exceptionally similar to the FE-360. The FE-370 has a 2.7-inch LCD display rather than a 2.5-inch, and has a larger 5x zoom to the FE-360’s 2x. The FE-370 has 10 built-in preset modes for shooting in different lighting conditions and also has movie recording at 640 x 480 or 320 x 240 resolution stored in motion JPEG format. Without batteries the FE-370 weighs in at 4.5oz. Look for it later this month for $199.99.

Both cameras are expected to be available in a variety of different colors. Rumored color choices for the FE-360 and FE-370 include the traditional black and silver as well as red, blue, and pink.

There have been a lot of cameras announced so far this year in an array of colors. I’ve always been a fan of the traditional black camera, although I’m also pretty fond of my silver Canon Powershot.

How many of you would purchase a colored camera when a traditional colored camera was also available? What do think the motivation is for digital camera manufacturers to create so many different color options for their new cameras?

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Entry was posted on Wednesday, August 20th, 2008 at 3:14 am under Compact cameras, Digital Camera, Olympus.

Read more entries by Emily Price.