Name: Panasonic LUMIX G1 (DMC-G1)
Category: digital SLR camera
Price: About JPY80,000 (body only)
Release date in Japan: October 31, 2008

Recent digital SLR (DSLR) cameras have offered both the traditional, mirror-based viewfinder and the option of "live view" shot composition via the back-panel display. The photographic partnership of Panasonic and Olympus is stepping up as the first manufacturer to do away with the old-style viewfinder, going all-electronic for both the large LCD display and the viewfinder in the new LUMIX G1.

Why is that a good thing? It's all about size: that internal mirror structure adds a lot of bulk to an SLR. By losing the main mirror that bounces light up to the viewfinder structure, the G1 is able to reduce the distance between lens mount and image sensor from 40mm to 20mm, as well as lose the smaller mirrors and prisms in the viewfinder structure. In the end, the LUMIX G1 shaves lots of bulk from the SLR format - at 385 grams, it's about half the weight of the earlier LUMIX DMC-L10.

The new electronic full-time Live View Finder shows a full-time, 60 frames-per-second preview with a 1.44-megapixel equivalent resolution. You can zoom in on detail, a useful feature when using manual focus. A built-in eye sensor takes note when you're peeking into the viewfinder and turns off the back-panel LCD display to conserve power.

In another departure from earlier DSLRs, the LUMIX G1 makes use of a new standard for its sensor and lenses, the Micro Four Thirds System. In a nutshell: Olympus and Kodak created the Four Thirds System specifically for DSLRs, featuring a 4:3 aspect ratio (the same as TVs/monitors and most compact digital cams, and different from the 3:2 ratio used for film cameras and older DSLRs). One advantage of the standard: lenses designed for the Four Thirds System are fairly compact. With the LUMIX G1, Panasonic and Olympus introduce the Micro Four Thirds variant, designed for mirror-less focal distances, electronic viewfinders, and even more compact lenses with a smaller mount. (Compatibility with Four Thirds lenses requires an adapter.)

Other features include 12.1-megapixel image sensor, a wide variety of Auto Focus modes, IA (Intelligent Auto) mode (a combination of Intelligent Scene Selection, AF Tracking, Face Detection, Intelligent ISO Control, and Intelligent Exposure), MEGA O.I.S. (Optical Image Stabilizer), digital red-eye correction, 3-inch free-angle LCD display, HDMI output, and Olympus's highly-regarded Supersonic Wave Filter dust reduction system.

In the end, the LUMIX G1 is for photogs who want the power and versatility of a DSLR, without the bulk, weight, and complexity. In fact, Panasonic de-emphasizes the SLR lineage in its marketing, going for "the world's smallest and lightest digital interchangeable lens camera" instead in its marketing. In a final un-SLR-like touch, the camera body comes in red and blue, in addition to the traditional black.

More info (Japanese):
http://panasonic.jp/dc/g1/