Here are the first pictures of the upcoming new Olympus E-P3 with 12mm f/2.0 lens attached! As you see the E-P3 is very similar to the [shoplink 14830 ebay]Olympus E-P2[/shoplink]. The main difference is the new built-in flash. We have been told the 12mm lens has a focus ring you can pull in a different position to allow manual focusing. Once pulled the focus ring on manual position you will see the distance scale! Cool!!! And as you see the new 12mm f/2.0 lens has almost the length of the [shoplink 14794 ebay]Panasonic 45mm macro[/shoplink].

Those are the full E-P3 specs:

– It has the new Olympus “tweaked” 12 Megapixel Sensor
– Truepic VI engine (two processor in one)
– ISO 100 to 12.800
– 1080i 60frs AVCHD or JPEG video
– 35 point autofocus
– OLED touch Display (610k resolution). Sounds like it is almost the same screen used for the [shoplink 19904 ebay]Olympus XZ-1[/shoplink].
– pop up live guide
– dual dials
– fastest AF to date for any mirrorless cam (and I have been told that it is considerably faster that the [shoplink 16254 ebay]Panasonic GH2[/shoplink]!).
– updated art filters
– effects to combine with art filters (like starlight)
– 3D still images
– built-in Eye-Fi support for controlling the Eye-Fi cards ([shoplink 23437 ebay]Click here to see the cards on eBay[/shoplink])
– Interchangeable grip. I have been told there are two different grips you can buy (and more will come after).
– Design changes: The top dial is now placed instead of the ON/OFF button of the E-P2. To make room for the built-in flash. There is a video recording button over the AEL button.

A source just told me that the E-P3 has built-in Eye-Fi support for controlling the Eye-Fi cards ([shoplink 23437 ebay]Click here to see the cards on eBay[/shoplink]). And as you know there will be a new flash too (the Olympus FL-300R). A new source told me that it works like the Sony’s F20AM ([shoplink 23438 ebay]Click here to see the cards on eBay[/shoplink]). For example you fold down to turn off.

And now a couple of confirmations:
1) A couple of sources confirmed that the 40-150 II R is coming too.
2) Sources are now certain the sensor is designed by Olympus (and produced by Panasonic). Olympus goal was to improve the dynamic range, color fidelity and autofocus speed.
3) New and known soruces keep saying AF speed is amazing :)

[shoplink 14816 ebay][/shoplink] Image on top shows the [shoplink 14816 ebay]Olympus 14-42mm f/3.5-5.6[/shoplink] which is going to be replaced soon with the “IIR” version.

Olympus will not only announce two new lenses (the 12mm f/2.0 and 45mm f/1.8) but also one (or maybe two) reworked kit lenses! There will be certainly a new 14-42mm IIR lens. It has the same size and optical design of the current [shoplink 14816]Olympus 14-42mm f/3.5-5.6[/shoplink] kit lens. But the new “IIR” version boost the autofocus speed to much higher (I repeat “much”!!!) speed than the [shoplink 16254]Panasonic GH2[/shoplink] + [shoplink 14802]14-140mm[/shoplink] combo! It is so faster that you “feel” it. It’s not just a marketing “blabla”!

One of our sources also told us that there will be also a new 40-150mm IIR coming too. But that has to be confirmed by other sources. Your older lenses will also focus faster on the new PEN but not as fast as you can do on the new lenses.

In summary, Olympus will announce three cameras (E-PM1, E-PL3, E-P3), a new Flash, two new prime lenses (12mm and 45mm) and two reworked zooms (14-42mm and 40-150mm). Is there somehting else Oly? :)