Canon recently announced its two new digital cameras, the PowerShot S5 IS and the PowerShot SD850 IS. These two models are replacements for its previous models S3 IS and SD700 IS respectively.

The PowerShot S5 IS features a 8MP image sensor, a vari-angle 2.5″ LCD screen and Canon’s DIGIC III image processor, 12x zoom (36mm to 432mm), image stabilization, 22 shooting modes. The S5 IS will be priced at $499 USD when it launches in early July.

The PowerShot SD850 IS measures 3.56″ x 2.22″ x 1.04″. It features an 8MP image sensor and DIGIC III, 4x optical zoom (35mm to 140mm), image stabilization, 2.5″ LCD screen, Face Detection, 18 shooting modes. The PowerShot SD850 IS will be available in mid-June for $399 USD.