If you’re in the market for a new point-and-shoot digicam and plan on spending time in the great outdoors this year, a new alternative to the Olympus’ Stylus Tough series will soon be available.

Panasonic recently introduced its Lumix DMC-TS1 ($399.95), billed as the world’s first waterproof, shockproof, and dustproof digital camera with high-definition (AVCHD Lite) video recording.

The rugged 12.1-megapixel camera features a 28mm wide-angle Leica DC Vario-Elmar lens, 4.6x optical zoom (zooming up to 128mm in telephoto, even during video recording), image stabilization, and an “Intelligent Scene Selector” that automatically adjusts settings depending on the situation (night, macro, portrait and so on).

Panasonic says the TS1 is waterproof to a depth of 10 feet (similar to the Olympus Stylus 1050SW), shockproof if dropped from up to 5 feet, and dustproof. Also designed for outdoor use is the 2.7-inch LCD with a wide-viewing angle and antiglare glass for enhanced visibility during recording and playback (and is thicker than most camera LCDs to protect against underwater pressure).

A Wind Cut option can reduce the background noise often picked up by a camera’s microphone when used outside.

Unlike the conventional Motion JPEG format, the TS1 offers nearly double the video recording time, with its high-quality AVCHD Lite (saved to SDHC memory cards). An optional HDMI output option lets you view videos on a high-definition television.

Available this April, the TS1 will ship in silver, green, or orange.