Canon was in the news yesterday as it has beefed up its PowerShot A-Series models, by launching two new models. The first in line is the 7.1 megapixel Canon A550, an entry level point and shoot with a comprehensive feature set.

The Canon PowerShot A550 has been equipped with a 4x optical zoom lens and a 2-inch LCD screen and is ideal for both advance and amateur users. It uses the DIGIC II image processor for enhanced performance and is actually an upgrade to the PowerShot A530 digital camera. The Canon A550 is also compatible with MMC, SD and SDHC memory cards and can record 30 fps VGA clips.

Canon claims that its new re-designed interface is highly intuitive and the redesigned mode dial features five of Canon’s most popular Special Scene modes for easier access, as well as standard fully automatic settings. There is a viewfinder too and one also comes across Canon’s AiAF “Smart” auto-focus system with Canon’s patented iSAPS intelligent scene analysis algorithm to determine optimum settings for focusing, exposure and white balance.

The Canon A550 has 11 standard shooting modes including, Full Auto, Auto with manual adjustment of exposure compensation and white balance, Portrait, Night Snapshot, Kids and Pets, and other Special Scene modes. It is PictBridge compatible and comes bundled with a USB cable, an audio/video cable, a wrist strap, a 16MB Multi-Media Card and AA-size alkaline batteries as well as the Canon Digital Camera Solution Disc Version 30, featuring the latest versions of Canon’s powerful software. The digicam should be available by February for around $199.