If you are looking for an affordable solution to underwater photography then you need to have a look at the Intova Sport Pro HD video camera. The Intova Sport Pro HD camera can record up to 1080p videos at 30FPS and is also capable of taking photos up to 12MP in resolution.
The Sport Pro HD comes with a waterproof housing that is indented for up to 200 feet depth. The camera has a 140 degree wide angle tlens that captures all the action. Having a 1.5-inch TFT display gives it a clear edge over high priced camera. It can accept microSD cards up to 32GB with either class 6 or class 10 rating for superior quality. The internal rechargeable battery lasts up to 2.5 hours of 1080P video recording.
The Intova Sport Pro HD video camera weighs just 170g and measures 7 x 8.4 x 6 cm. It is currently available at Amazon (see details).