The official Canon Hong Kong press release as above suggested us that Canon is now officially working on a new PowerShot compact camera with a large sensor, high zoom capability and compact body.
PArt of the press release
New PowerShot Digital Compact Camera Under Development
Featuring large image sensor, high zoom capability and compact body
Canon is developing a new premium digital compact camera that combines the merits of both large image sensor and high-magnification optical zoom lens in response to the demands from users looking for high quality high zoom performance. Offering both convenience from a compact body and excellent super telephoto performance, this camera is perfect for everyday or travel shooting in high quality.