7 Megapixel Camera Phone

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Alex writes "It looks like LG Electronics are planning a 7 Megapixel Camera Phone which to me seems like overkill - but it must be making a few of those digital photography manufacturers pushing out point and shoot digicams a little nervous. Camera phones will never take over DSLRs or serious digital cameras but are we seeing what will be the death of the entry level point and shoot digicam?"