Image compression technology has come a long way since the JPEG standard was set in the 90s. But JPEG is still the standard used by most digital cameras.

Microsoft has been lobbying hard to make its HD Photo format (also known as Windows Media Photo) the new standard. And it looks like the Joint Photographic Experts Group, the group behind the JPEG file format, have approved a plan to rename HD Photo "JPEG XR" and to make the format a new standard of sorts.

We don't expect old fashioned JPG images to disappear overnight, but HD Photo files can show a higher range of colors, supports in-camera image processing, and offers more advanced compression techniques than today's JPEG files.

[via Thomas Hawk]