Canon announces the Canon HG10 AVCHD 40GB Hard Disk Drive Camcorder.

The Canon HG10 features 10x HD Video lens, Canon Full HD CMOS image sensor, Canon's proprietary DIGIC DV II Image Processor, SuperRange Optical Image Stabilization and Instant AF. The Canon Full HD CMOS Sensor captures images at 1,920x1,080px resolution

Additionally, the camcorder features 24p Cinema Mode, allowing consumers to achieve the look and feel of film.
With the HG10 you can also take still photos with 3.1MP resolution onto an SD card.

Other features of the Canon HG10 include 2.7 inch screen, Navigation Control Dial on the LCD panel and HDMI port.

The Canon HG10 will ship in October with an MSRP of $1,299.
Via the Canon site.

See also the Canon HR10 that records AVCHD video on the DVDs.