Cowon has officially announced the release of the new P5 PMP, coming up at the end of July and suppose to replace the Q5W version. The new P5 features an impressive brushed metal body in 3 different flavors, including red, black and platinum. Like the previous version, it runs Windows CE 5.0 and offers 40GB, 60GB or 80GB capacities, at your choice. In addition it has an FM tuner, a microphone, a built-in speaker, strong Alchemy AU1250 700Mhz processor, Bluetooth 2.0, WiFi connection to surf the internet, TV output (Composite, S-Video, Component), a T-DMB tuner USB2.0 host and a 5-inch touchscreen, 16M colors (800×480). The player supports wide range of formats, like MP3, WMA, ASF, OGG, WAV, FLAC, APE, MPC, WV, AVI, ASF, WMV, MPG, DivX, XviD, MPEG4, WMV9, JPG, BMP, PNG, RAW, TXT, CXD, SMI, and SRT. Battery improves, comparing to previous model, as it can play 14 hours of music or 9 hours of video, where dimensions stand at 138.8 x 88.5 x 20 mm 380g. The new P5 is planned to make a debut in Korea on July 29th for an estimated price of $435. More pictures after the break.