…in October Olympus launched an updated version, the mju 725 SW. It looks almost identical, 
with the same tough industrial-looking steel body, complete with exposed Allen bolt heads. These struck me as a bit of a cosmetic pretence the first time around, so in a spirit of inquiry I undid the three on the front panel just to make sure they were real bolts. In fact one of them was a fake, but the other two held the front inset panel in place. The camera comes in three colour schemes (the Titanium version you see here, plus Deep Blue and Cherry Red) with only this inset panel being of the different colour.
The similarity between the two models even extends to the retail price. The mju 720 SW is available online for around £220, while the best price for the new 725 SW is £223.
The only real difference between the 720 and its successor is an improvement to its already impressive durability. Where the 720 was waterproof to a depth of three metres, the 725 is waterproof to five metres, a whole extra 1/5th of an atmosphere of pressure, which I’m sure will make a huge difference. TrustedReviews - Olympus mju 725 SW