CES 2003: Pentax has today  announced the ultra tiny Optio S digital 
camera. The new three megapixel, three times optical zoom 'Optio S' 
measures just 83 x 52 x 20 mm (3.3 x 2.0 x 0.8 in) and weighs 115 g 
(4.1 oz) loaded with its Lithium-Ion battery and an SD storage card. The 
Optio S has a tough and stylish aluminium alloy case and has a more 
'designer' look than the previous Optio digital cameras. This amazing 
feat of miniturisation was achieved with a unique sliding lens, a design 
which has elements which slide out of the imaging path when powered 
off.

Diagramm of the "sliding lens"

http://www.dpreview.com/news/0301/03010801pentaxoptios.asp

Ciao
Andreas

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