The Leica V-Lux 20 was announced on April 20th, 2010 and is expected to be discontinued in the next few weeks. This will open a hole in the low end of Leica's product line.
Panasonic announced several new point and shoot cameras in January of 2011 and by looking at the different models, I think the next Leica compact camera will be based on the Panasonic Lumix DMC-ZS10 model:
Because of the disaster in Japan, Panasonic has temporarily suspended the production of Lumix cameras (source).
Currently there is a mail-in rebate for a free leather case and SD card holder when you purchase the Leica V-Lux 20.