JVC has displayed a new version of the HD Everio, dubbed the JVC GZ-HD3, in Japan. The new camcorder is most likely going to be the little brother of the HD7 and will feature a 60GB hard drive for up to 5 hours of recording at max quality.

According to Akihabara News, the JVC GZ-HD3 will record in the MPEG2 format at 1440×1080, as opposed to the full 1920×1080 of its big brother. You will also be able to use a SDHC card to further increase storage capacity.

Other than that, the JVC GZ-HD3 features a widescreen LCD, 10x optical zoom, and 3 CCDs (size unknown). Other features will surely be forthcoming, but CamcorderInfo reports that the JVC GZ-HD3 was shown in Japan to a small amount of press members and that no official announcement has been made.

No shipping date is available for the JVC GZ-HD3, but it should cost around $1200 US.