Canon released two new compact ELPH cameras today; the 12.1 mega-pixel PowerShot SD950, and the 8.0 mega-pixel PowerShot SD870. The SD950 is the top-of-the-line, titanium-bodied, 3.7x optical zoom model, which should retail for $449.99. The SD870 is a more affordable version with a smaller 8.0 mega-pixel resolution, which should retail at $399.99.

Both have optical image stabilizers and face recognition technology. Both cameras should be in stores by September, and will ship with a rechargeable battery pack, battery charger and 32MB MMC memory card. [Canon]