Lollipop Chainsaw will be released later this year, and while we don't have a specific release date yet, we do have the brand new Valentine's Day trailer. 

"Lollipop Chainsaw is the ‘un-deadly’ story of sweet and killer zombie hunter Juliet Starling and her quest to uncover the root of a colossal zombie outbreak. With her wickedly awesome chainsaw in hand, Juliet slices, dices and splits her way through hordes of the undead, but soon realizes the horde is only the opening act to a festival of zombie rock lords determined to kill the chainsaw wielding cheerleader.

Warner Bros. Interactive Entertainment and KADOKAWA GAMES have announce a new partnership to bring Lollipop Chainsaw to gamers around the world in 2012 on the PlayStation®3 computer entertainment system and Xbox 360® video game and entertainment system from Microsoft. Warner Bros. Interactive Entertainment will be publishing the game outside of all Asian territories.

Lollipop Chainsaw is an all-new third person action game being developed by GRASSHOPPER MANUFACTURE, led by celebrated gamemaker Goichi Suda (aka Suda51) and featuring the musical compositions of the renowned Akira Yamoaka. In addition to these two talented individuals, Warner Bros. Interactive Entertainment has tapped Hollywood director/writer James Gunn (Super, Slither, Dawn of the Dead, Tromeo and Juliet) to bring his cult humor and edgy storytelling to Lollipop Chainsaw."

Source: Gamespot