Iriver quietly announced a new Portable Navigation System in Japan on Friday called the CaroNavi M3. The device will feature a 3.5-inch LCD TFT Touch Screen (though it does erroneously say OLED on the product page), and will be compatible with a number of media formats including MP3 / WMA / OGG for music as well as WMV for video playback.

The SatNav unit is small and lightweight and is designed to be used not just in the car, but on motorcycles, bicycles and even when on foot. The unit weighs 137g (4.83 ounces), with dimensions of 101.6mm (4.00″) x 18.2mm (0.72″) x 86mm (3.39″).

The CaroNavi M3 includes an SD card slot for expanding its 2GB of Flash memory and will be priced at ¥29,800 ($321.00) when it launches on December 19th in Japan.

Sources:
Iriver Press Release (translated) and CaroNavi Product Page and Impress (translated)
Via: Akihabara