The problem with compact cameras is the image quality. You do get the compactness but just don't expect some fantastic looking pictures. Sony wants to change that and has in a big way, by stuffing a huge 1-inch sensor into compact camera body.
Sensors that size you usually only find in pro DSLR cameras. A bigger sensor means it can capture more light, making images a lot crisper and sharper.
The Sony RX100 features a 1-inch, 20.2 megapixel CMOS sensor, an aperture of F1.8, 3.6x optical zoom, Carl Zeiss optics, ISO of up to 25,600, Full HD 1080p video recording at 60fps, RAW image capture capability, focus ring, a 3-inch LCD display and a pop up flash.
The price will be around £500 which is pretty steep for a compact camera. You can get a Micro Four Thirds camera with that price, but then you are getting a real compact camera which can fit in your pocket.
They still haven't been put into production yet so there is no way of showing some image samples. It is expected to be released next month though.