This is the waterproof HD video camera that captures action above or below the waterline. With the highest Ingress Protection Rating attainable (IPX8), this camera can stay submerged down to 10′ for up to an hour to record the inhabitants of a coral reef or a child’s first underwater flip. A 3" TFT LCD color screen and 4X digital zoom enable easy capture and review of shots. The 5-megapixel camcorder records up to 60 minutes of HD (1920 x 1080p) of video footage at 30 fps, or takes up to 900 high-resolution (3264 x 2448) still images on a 4 GB SD memory card.
More info: Cheap Underwater HD Camcorder