Sony Ericsson today announced the S312, an entry-level camera phone featuring a dedicated video camera key for “recording life’s special moments,” according to the release.

Like the W205 mobile Sony Ericsson also announced today, the S312 is targeted toward younger users looking to snap quick pics with the 2 megapixel camera featuring 2.5x digital zoom and record YouTube videos with the dedicated video camera key. The S312 also includes installed apps for touching up photos and uploading them to the web.

The 176x220 pixel 2-inch screen displays images while the mobile offers up to 15 MB of storage, though the amount of storage actually available may vary considering the pre-installed apps.

The S312 only tips the scales at 2.8 oz, making it light and easy to carry in a shirt pocket.

The S312 is slated for release this quarter. While pricing was not made available, this model is geared toward budget-minded consumers.

Via the Sony Ericsson announcement.