Olympus today announced the FE-270 - a no-frills entry level digital camera aimed at providing an higher quality alternative to cellphone cameras. That's right, it seems the manufacturers are finally admitting that these devices are cutting into their market. That said the FE-270 should comfortably exceed the performance of even the fanciest phonecam with its 3x zoom lens and - crucially larger - 7.1 Megapixel sensor.

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