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Samsung isn't the first company to offer built-in GPS into an imaging device (Sony has it in their camcorders) but it's nice to see the technology proliferate. The new, 12-megapixel HZ35W is going to use GPS to geo-tag images (i.e. to embed location data into the image file, which you can use to view pics on applications like Google Earth). It will also display in real time your location on the camera's 3-inch AMOLED screen. I've tried similar functionality on the Sony XR520V camcorder and these current location maps aren't super-detailed (although Samsung's could be). It wasn't street level, but more like town level.
Additional features include a 15x optical zoom lens (24mm wide angle, no less), shutter and aperture priority, optical image stabilization and 720p video recording. It's going to be joined by a similar product - the HZ30W, that has the same 12-megapixel sensor and 15x zoom, but it uses a 3-inch LCD display (not the better AMOLED technology) and it loses the GPS. Both are pretty well spec'd, but pricing wasn't announced. Look for them in March.