There have been numerous rumors regarding Canon Technologies in their line of imaging products. Let’s break them all down piece by piece. In the case of DIGIC V, apparently this will be powering the next Canon DSLRs. The mob is expecting for a better noise reduction and of course notable processing speed. Aside from this, there’s still another brand new feature we’re trying to figure out. If you are looking forward for any PowerShot G12 replacement in 2011 well, you better keep looking as there is not expected to be a replacement this year.

Probable announcement for 2011 are quite blurred as we have not been receiving any information at all. But don’t lose hope yet as it is suggested that this was to ensure Canon could meet the production demands that are fast-approaching for the Christmas holiday season. We understand that this might make a stir in the market if disclosed anything too early. Canon also flat out said “Canon will announce a new camera when it’s done and not a minute before”. Canon has no desire to announce a camera and it not be available for 2-3 months.

Nikon’s mirrorless camera is now causing a ripple in the pond after a picture of the prototype camera leaked. But in the case of Canon’s Mirrorless, R&D like Nikon’s is still ongoing and not much if anything has been leaked yet.

On to Lens Rumors the 2011 edition of Popular Photography had a reference to an EF 24-70 f/2.8L IS II which has had people speculating of an update to this very popular lens from Canon however it has been widely dismissed and considered a typographical error. For one point, any 24-70 with IS wouldn’t be designated with “II”.