This is a novel form factor for a point-and-shoot. If anyone gets serious about making an open source camera, they should definitely try something inventive like this.

The design of the “variable frame” allows it to act as a sort of tripod, giving you steadier shots for video or low-light exposure and giving you one less thing to carry. Another odd feature is that the lens is not a zoom, but instead a fixed wide-angle.

(via Casio goes innovative with Tryx camera desig – core77.com)

I’m not really sure the benefits are worth the hassle though. The thing is almost like a puzzle!

Engaget has some specs.

The 12.1 megapixel shooter sports what the company’s calling Exilim Engine HS, which equates to 1080p 30 frames per second video, up to 240fps (at 432 x 320 resolution) slow-motion, and various HDR and panorama options. there’s also a 3-inch touchscreen LCD, but the biggest draw here is the swiveling enclosure that serves as a stand for setting up just the right shot. We got an early glimpse at a non-functional prototype, and the size is definitely interesting — we still need to see it in action, though. Price is a penny shy of $250 and shipping date’s April 2011.

(via Casio’s Tryx pocket camera takes a stand (literally) alongside new Exilim lineup – engadget.com)

EDITED TO ADD:

This thing is almost the exact opposite of the Casio:

The FinePix X100 is… not really comparable to anything on the market. It’s got the sensor of a DSLR (12-megapixel APS-C) but is set up like an old-school rangefinder, with an actual optical viewfinder. Or rather, a hybrid viewfinder, since they can overlay information on it like an EVF… but it’s still a real image, not an electronic one. This thing looks nuts.

(via Fujifilm FinePix X100 Combines Versatile Digital Power With Insanely Good Looks – crunchgear.com)

See also a CrunchGear hands on and the official Finepix X100 microsite.