The Olympus SP-510 with its 10X optical zoom is great for people who need to get in a little bit closer, but don’t want or need the hassle of a DSLR. The camera has a 7.1 megapixel sensor, an additional “Fine Zoom” option that will boost the total zoom to 15x, 2.5-inch LCD on the back, an ISO of 4000, and xD-Picture Card slot for storing your photos.

The camera should be available some time in September. It won’t be as cheap as standard point and shoots, but it should be below the cost of DSLRs. It’s a nice medium ground for people who need zoom and decent resolution.

Press Release [Olympus via MobileWhack]