Nikon releases a the Nikon S2 that has obvious design similarities with the Sony DSC-T7 - just look at the sliding lens cover.
The 5MP Nikon S2 is splash-proof and measures 22mm in thickness (not beating the DSC-T7). The new slim Nikon digital camera features a 2.5 inch LCD screen. The S2 has the same camera specification as the Nikon S1. The difference is the design, higher weight and that it is splash-proof. The Coolpix S2 should come this spring with a $449.95 pricetag. The Nikon Coolpix S1 sells for $379.95 right now.
LetsGoDigital has a preview of the Nikon S2 and a useful comparison table between other slim digital cameras.