Olympus unveils the E-P2, its second SLR-like digital camera

Olympus Pen E-P2

For a little over a year, Olympus and Panasonic have attempted to popularize a new type of compact digital camera that has the image quality of an SLR. Panasonic already has three models—the Lumix G1, GH1, and GF1. Yesterday, Olympus introduced its second SLR-like (or micro four-thirds) camera, the 12-megapixel Pen E-P2.

In many ways, it has many of the same specs as the E-P1 such as body-based image stabilization, the ability to shoot HD-resolution video, a 3-inch liveview LCD and a compact retro camera-body design (although it will only be offered in black). Both are also available as kits with either of two lenses: the 14-42mm zoom or 17mm prime.

So what's new on the E-P2? The biggest change is a bundled electronic viewfinder. With the EP-1, you had to pay separately for an optional, glass viewfinder. The new viewfinder plugs into a new port on the camera body and slides into the hot shoe. The new port accepts other optional accessories, such as the new external microphone jack for using external microphones, that you'll have to pay extra for. However, just like the E-P1, there's still no built-in flash, which is disappointing, since you'll have to buy an external flash. Plus, you'll have to choose between using an external flash or viewfinder; the hot shoe can only accommodate one of these at a time.

The E-P2 includes some other features borrowed from high-end Olympus cameras, including art filters mode, found on the E-30 and other E-series SLRs. On the E-P2 you can apply these filters to video, which you can't do with the SLRs.

The new Pen series camera will be available December for about $1100 with either kit lens and the electronic viewfinder.

In addition to the camera body, Olympus has also announced that it's expanding its lens offerings for the micro four-thirds cameras, with a 9-18mm f/4.0-5.6 wide-angle lens and a 14-150mm f/4.0-5.6 wide-angle lens. Pricing was not yet available, but the lenses should ship in the first-half of 2010. —Terry Sullivan