The Panasonic FZ200 is undoubtedly sitting pretty as the extended zoom camera of choice for 2012. Although much pricier than its competitors, the FZ200 crams a 24x f2.8 lens into a body not much larger or heavier than its predecessor, the FZ150. Other features, like a high-resolution electronic viewfinder, tilting screen, fast autofocus, 1080/60p video capture and 12fps burst mode, are just icing on the cake. The 12 megapixel sensor isn't any larger than the competition, and indeed reviews haven't noticed a big change in image quality, but that fast lens helps keep ISOs up to two stops lower at the long end than the competition.

Runner-up: Fujifilm X-S1

[Read our full Nikon COOLPIX P510 Review]

The P510 digital camera is the first camera to break the 40x zoom barrier, heralding a new age of ridiculously versatile zooms in handheld packages.

The Nikon P510 is the follow-up to 2011’s P500, a well-reviewed camera that pushed the limits of zoom range in a compact. That camera’s 36x optical zoom, however, pales in comparison to the P510’s monstrous 42x range, a number that handily eclipses the offerings from every other major manufacturer in the market. While that incredible lens is certainly the selling point here, the P510 offers a wealth of other features that keep it competitive too, such as a 16 megapixel backlit CMOS sensor, GPS tracker, an electronic viewfinder as well as tilting LCD, and a handy zoom lever on the lens barrel

Extended zoom cameras are all about zoom, and the SX50 HS has once again pushed the limits of what we believed was possible in a handheld camera. The SX50's 50x optical zoom surpasses the Nikon P510's 42x, making it the most lusted-for lens by birders the world over. The zoom begins at 24mm and stretches all the way out to 1200mm, a length that even with Canon's claimed 4.5 stops of stabilization will be a shaky mess. Canon has also thrown wireless into the SX50 HS and claims much-improved autofocus performance over its predecessor the SX40.

Runners-up: Nikon P510, Fujifilm HS30EXR