This is the Olympus TG-1 iHS:
iHS is an Olympus technology and stands for Intelligent High Speed, Intelligent High Sensitivity — view an explanatory video on YouTube.
Sample Photos
Visit Olympus Asia for an official gallery of full-resolution TG-1 iHS image samples.
Resources
Official Olympus TG-1 page at Olympus America.
May 08, 2012 press release on DPReview.com.
Related
Olympus cameras — Main page