Kodak has just unveiled a 16 MPx, Android powered smartphone or beter said smartcamera. The Kodak Polaroid SC1630 Android HD Smart Camera is a thick phone (18.5mm) but if you look at it as a camera it's actually compact.
In terms of camera you get a 16 MPx unit with 3X optical zoom, F3.1-F5.6 aperture, xenon flash, 720p video recording, shutter speeds of up to 1/1400 and ISO up to 3200.
As phone you get quad band GSM and tri-band 3G support, a 3.2” WVGA display, microSIM, 2.5 mm jack, Android OS(version not specified) and a pretty small 1020 mAh battery.
The Polaroid Android HD Smart Camera will $299 and should be available in April.