The Nikon Coolpix 700 is the fixed lens, smaller brother to the Nikon Coolpix 950. The 700 sports many similarities with the 950 including the image sensor, similar internal software, many similar features and the same fast processing and cycle times.
The 700 competes directly with cameras like the Fuji MX2700, Toshiba PDR-M4 and Sony DSC-F55K.
This camera comes in at nearly half the price of the 950 and is extremely attractive to users who aren't necessarily interested, or have a requirement for, an optical zoom. Or are possibly more interested in the smaller size and lighter weight.