Olympus today has announced two new 3 Megapixel cameras for consumers. The TARGET=”_top”>Camedia C-720 Ultra Zoom offers a high quality 8x optical ultra-zoom lens and 3x digital zoom in a unit measuring 3.1″ x 4.2″ and weighing in at only 11 ounces. It retails for US$599. The TARGET=”_top”>Camedia D-550 ZOOM boasts a 2.8x optical zoom, 3.6x digital, 5 Scene Program modes, and a 1.8-inch LCD for $399. Further details on both of these cameras is available in the press releases linked above.