Is Canon working on a higher end and more professional underwater camera?

We're told that Canon is working on an underwater camera for serious divers, a camera that would not require an underwater housing and far superior to any of the point and shoot options out there. Canon has said that they're going to start making cameras that are need based, instead of the do-it-all cameras of the past.

Take this with a huge grain of salt, but the concept is interesting.

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