Olympus just launched a new Teaser video you can see here: http://www.getolympus.com/PENteaser/. The teaser is a bit boring because you really don’t see anything :(

I am still not 100% about some aspects of the new “mysterious” Olympus designed (or tweaked) sensor. What I know for certain is that Olympus kept the promise and will not join the Megapixel race which lead Panasonic to announce cameras with 16Megapixels (for the [shoplink 22077]G3 and [shoplink 16254]GH2[/shoplink]). The new sensor has 12.1 Megapixels! I have been told that this is not the same “old” 12 Megapixel sensor which you can find inside the current Olympus PEN cameras. The sensor has been “tweaked” (and some sources say “redesigned”) by Olympus. What that word “tweaked” means is a big and yet unanswered question.

The second news is that the new PEN cameras will indeed use the new TruePic VI engine which has two cores. Olympus worked on all aspects of the camera, sensor, internal circuity, imaging processor with the main goal to increase the dynamic range and ISO performance. Sources said that we should expect an image quality that is at least on par (but more likely even slightly better) than the current top [shoplink 17163 ebay]Olympus E-5 model[/shoplink]. First reports I received from testers said that there is a visible step forward in image quality (with pre production models and unfinished firmware!).

In summary, Olympus may made a bit of mess with the product naming and specs (See for example missing tilt screen on the E-P3) but we have to give credit to Olympus for working on the key aspects where many of our 43rumors wanted to see an improvement:

1) That sensor is designed by Olympus and that means that they will no more have to rely on second generation sensors from Panasonic.
2) It’s nice to see that Olympus worked to improve dynamic range and ISO performance instead of increasing Megapixel numbers.
3) AF speed is amazing. And that’s going to impress many potential m43 buyers!
4) Finally some amazing lenses! The high quality 12mm f/2.0 and the cheap ($299) and fast 45mm f/1.8 portrait lens.

Overall I am very happy with the steps Olympus made with the new PEN’s. Of course there is still room for improvement. But guys, they are finally going in the right direction or not?

The new E-PM1 compared with the [shoplink 19904]Olympus XZ-1[/shoplink] (Click on image to enlarge).

As you know Olympus will announce three new PEN cameras and the 12mm f/2.0 and 45mm f/1.8 lenses on June 30th (Click here to see the official Olympus invitation). And on top you can see the very first image of the tiniest of the three PEN’s the Olympus E-PM1! The other two cameras will be the E-PL3 (with tilt-screen) and the E-P3 (no tilt screen, built-in Flash). The main new feature of the Olympus cameras will be the new ultrafast autofocus that will beat the already fast [shoplink 16254]Panasonic GH2[/shoplink] AF and it will be even faster than the AF of most current DSLR cameras!!! Also the sensor and imageing engine will be new (I hope to get some more news soon about that). Don’t miss any rumors: Join us on Facebook and Twitter! Subscribe our RSS feed!

A good source had the chance to play a little bit with the new smallest PEN. And this is his hands-on report (I have rewritten the report to hide the language style):
“The E-PM1 is really very small. The body size is very similar to the [shoplink 19904 ebay]XZ-1 (Click here to see it)[/shoplink] (similar depth and height, and a little less wide. Autofocus speed is awesome (faster than the [shoplink 21666 ebay]E-30/E-5[/shoplink] by any means). And the AF is not only fast, it’s accurate! It has touchscreen, but it also has enough buttons like the [shoplink 14832 ebay]E-PL1[/shoplink].) Overall it is a camera you can handle very easy. Looking at the size of the E-PM1 it might will not sue the [shoplink 23257]BLS-1/5 battery[/shoplink], I am not sure about that but I think it could use the [shoplink 23258]Li-70B battery[/shoplink] from the XZ-1?
All three new PEN cameras do have touchscreen and a new circuitry that reduces power consumption and increases the battery autonomy.

Editor’s note: The new Panasonic GF3 is a bit smaller than the E-PM1 but that camera doesn’t come with built-in image stabilization and doesn’t have the same usability (the E-PM1 has more buttons).

Questions to sources: Do you know the price of the camera?

Links cameras/accessories mentioned in that article:
Olympus XZ-1 at [shopcountry 19904].
Olympus E-PL1 at [shopcountry 14832].
Olympus E-30 at [shopcountry 21666].
Olympus BLS-1/5 battery at [shopcountry 23257].
Olympus Li-70B battery at [shopcountry 23258].

Reminder -> Rumors classification explained (FT= FourThirds):
FT1=1-20% chance the rumor is correct
FT2=21-40% chance the rumor is correct
FT3=41-60% chance the rumor is correct
FT4=61-80% chance the rumor is correct
FT5=81-99% chance the rumor is correct

Our sources are pretty exited with the new upcoming Olympus 12mm f/2.0 high grade lens. First the build quality is amazing, it’s an all metal piece of goodness! And the lens has a distance scale! According to my sources the lens has the best image quality (resolution, color rendering) tested to date. Someone said there is nothing to envy to any Leica lens! Compared to the Leica 24mm f/3.8 ([shoplink 23253 ebay]Click here to see that lens on eBay[/shoplink]) the Olympus will cost $1.700 less and has a much faster aperture! Another source that this is one of the lenses that will birng new sex appeal to the Micro Fur Thirds system (yes he used those words). The 12mm lens will be available a couple of weeks after the June 30th announcement. So check your piggy bank savings, you need around $850 for that lens!

In summary:
– Olympus 12mm f/2.0 coming on June 30th
– It’s the very first High Grade lens for Micro Four Thirds and is made in Tatsuno (Japan)
– All metal construction with distance meter.
– Lens size similar to the new Panasonic Leica 25mm f/1.4.
– Filter size 46mm
– Already in production since April and will be in Stock in July.
– Close focusing 20cm (0.67 feet)

Reminder -> Rumors classification explained (FT= FourThirds):
FT1=1-20% chance the rumor is correct
FT2=21-40% chance the rumor is correct
FT3=41-60% chance the rumor is correct
FT4=61-80% chance the rumor is correct
FT5=81-99% chance the rumor is correct

Engadget Chinese (Click here) spotted that Olympus invitation card for an even on June 30th during 14:00 ~ 16:30 (Taiwan GMT+8). The event starts with speeches from Olympus managers and Photographers. At the end of the event there is a testing part with new products. No products have been specified in the invitation. But we already know what’s coming:

Three Pen cameras, the E-PM1, E-PL3 (with tilt lcd) and E-P3. Two new lenses, the 12mm f/2.0 and 45mm f/1.8. But there will be some other new stuff to and I am working to get details about that.

The rumor:
Some of my sources read your comments and sent me some of the answers you were looking for. The Olympus 12mm f/2.0 High Quality lens should cost around $800-$850. It’s not exactly cheap but this lens is supposed to be the first ultra-high-quality lens from Olympus. It should be just a bit less long than the mockup lens Olympus showed in February (see the image on top). Filter size is 46mm. As you know the production of the lens began in April and the lens will should be in Stock a short time after the announcement on une 30th. The lens will be made in Tatsuno. it’s the plant that realizes the high quality lenses from Olympus like the crazy expensive and crazy high quality Olympus 300mm f/2.8 ([shoplink 22138 ebay]Check the scary price on eBay[/shoplink]).

The second news is that the 45mm f/1.8 lens is not a MACRO. I guess that it’s ok for a lens that costs 299 Dollars/Euro only!

I guess we have now plenty of awesome new lenses for our Micro Four Thirds camera. If I could I would buy all three new lenses, the 12mm f/2.0, the 45mm f/1.8 and the Leica 25mm f/1.4! By the way, preorders of the Leica lens are still available on Adorama (Click here) and BHphoto (Click here) notifies you when the lens will be in Stock.

So let’s start a poll:

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Reminder -> Rumors classification explained (FT= FourThirds):
FT1=1-20% chance the rumor is correct
FT2=21-40% chance the rumor is correct
FT3=41-60% chance the rumor is correct
FT4=61-80% chance the rumor is correct
FT5=81-99% chance the rumor is correct

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We can long discuss if you like the upcoming PEN or not but one thing is sure, the two upcoming Olympus lenses will be awesome! We already knew for a long time that one of the lenses would be the 12mm f/2.0 High Quality PRO lens. But we were not so sure about the second lens. Some said it would be a 50mm f/1.7 and others told me it would be a 45mm f/1.8. I finally got the right answer! Olympus will announce a new 45mm f/1.8 lens which will cost around 299 Dollars/Euro only! I think that’s an amazing cheap price for a lens that is fast and will have a very good image quality (at least that is what sources told me). It’s not a pancake, it’s a bit bigger lens. It should be very similar (in size) to the just announced Panasonic/Leica 25mm f/1.4 lens (click here to preorder on Adorama!). Wow, Olympus finally is making the lenses we wanted! What I don’t know yet is if the lens is a macro like the famous Olympus 50mm macro lens ([shoplink 23192 ebay]Click here to see that lens on ebay)[/shoplink]. One source told me it is NOT a macro lens but that’s a very weak rumor for now. Reminder, the only Micro Four Thirds macro lens to date is the [shoplink 14794]Panasonic-Leica 45mm f/2.8[/shoplink].

The new three PEN cameras + the two new lenses will be announced on June 30th! Follow us daily. There are still many rumors I am working on! P.S.: The chance is big that there is something more coming (lenses and accessories).

Links to mentioned lenses:
Panasonic/Leica 25mm f/1.4 at [shopcountry 23110] (hard to find preorders).
Olympus 50mm f/2.0 macro lens [shopcountry 23192].
Panasonic-Leica 45mm f/2.8 at [shopcountry 14794].

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