Although many have prophesied that phones would take by storm the compact cameras' segment, that didn't really happen until now, since handsets have still a long way to go in image quality before catching up to their picture-taking counterparts, but that didn't stop Altek from designing the 14 megapixel Leo Android cameraphone.

So what so special about the Leo?

For starters, this thing features a 3x optical zoom lens, auto-focus assist lamp and a built-in xenon flash making it look more like a compact camera then a phone.

But all that changes when you flip it over and stumble upon a 3.2-inch WVGA multi-touch capable display that forms the Android 2.1 smartphone part of the Leo.

Although Altek doesn't share to many details about the phone capabilities of the Leo, we do know that Wi-Fi, Bluetooth and 3.5G are among the specs list, together with a microSD slot and GPS, but other info is scarce, Altek preferring to focus on the image-shooting capabilities of this device.

Back on the camera side, Altek also says this is capable of 720p video recording, on the fly image editing, has geotagging support and features a Sunny 9 digital image processor.

"Memorable moments usually happen when you least expect them," observed Altek CEO, Alex Hsia

"You want to be able to capture those precious moments anytime and anywhere, and Leo is the device that lets you do just that."

Hsia added, "Leo is the product of design know-how that comes from years of creating breakthroughs at altek in digital imaging technology, integrated with most advanced Android smartphone system."

All these promises sound really great, but I still have to wonder about what type of battery life will we get from the Leo since Android is pretty well known for being a power starved OS going through the battery in about a day, so that xeon flash and optical zoom lens can't really help.

Also, the Leo features a 1/2.3” image sensor making it inferior to the 1/1.83” one used in the Nokia N8, Nokia's offering having the advantage here, although you could argue the 3x optical zoom lens makes up for the difference in image sensor size.

These questions will surely put to rest one the Leo hits the market, Altek saying they are currently seeking channel partners in Europe, as it prepares to bring Leo to market in the first quarter of 2011.