Olympus officially announced their first Micro Four Thirds camera today. The new E-P1 ‘PEN’ camera is an interchangeable lens camera features the controls and flexibility you’ll find in a typical digital SLR, but it’s a lot smaller… it’s even more compact than Panasonic’s GH1 camera. Oh, and as a Micro Four Thirds camera, the E-P1 PEN is strictly live view only – it has neither a mirror box nor a built-in optical viewfinder (Though an [optional] external viewfinder is available, and can be attached via the hotshoe)

Olympus E-P1 PEN
(Micro Four Thirds interchangeable lens camera)

• 12.3 megapixel LiveMOS sensor (2X crop factor)
• Sensor-shift image stabilization
• Dust reduction
• Micro Four Thirds lens mount (compatible with full-size Four Thirds, Olympus OM, Leica M and Leica R lenses using their respective optional adapters)
• New TruePic V processor promises better color, noise reduction and detail processing in photos
• 3 inch LCD
• Live view with contrast detection AF, face detection and Perfect Shot Preview
• Full manual controls with hotshoe and RAW
• Intelligent Auto mode with auto scene selection; Art Filters and multiple exposure features
• 3 FPS burst mode
• 720p (1280 x 720) at 30 FPS movie mode with stereo sound and continuous AF
• Takes SD/SDHC cards – Surprise! No xD-Picture card support!
• Uses a lithium-ion battery
• Available in July for $750 (body only), $800 (with new 14-42 mm kit lens) or $900 (with 17 mm pancake lens and viewfinder attachment)

Not surprisingly, Olympus also has two new lenses and an external viewfinder to go along with the new E-P1:

• Olympus Micro Zuiko 17 mm f2.8 pancake lens
• Olympus Micro Zuiko 14-42 mm f3.5-f5.6 retractable lens
• External viewfinder for 17 mm lens (attached via hotshoe)

Related articles:

• Olympus E-P2 Micro Four Thirds camera; now official!
• Panasonic Lumix GF1 now official
• Panasonic Lumix GH1 HD video interchangeable lens camera
• Leica M9 and Leica X1 camera announcements
• Samsung mirrorless NX system concept