Housed in a body reminiscent of Olympus' old film cameras, the E-M5 is the first in the camera manufacturer's OM-D (OM Digital) series of digital micro four-thirds products. Modeled after the Olympus PEN line, the E-M5 is tailored with a built-in electronic viewfinder that offers a 100 percent field of view, a fast 120-fps refresh rate and 1.15x magnification (meant to reduce eyestrain). Images can be played back on the 3-inch, tilting, touch OLED screen.

Housed with a 16.1-megapixel Live MOS sensor, the E-M5 comes with a 5-axis image stabilizer and a 3D-ready AF tracking system that uses FAST (Frequency Acceleration Sensor Technology), so it can shoot up to 9 fps.

As expected of all new cameras, this one comes with video capabilities (1080i HD) and effects.

One other unique feature of this camera is the live bulb mode, which updates the live view image on the LED screen during long exposures to allow users to preview the shot.

The E-M5 is compatible with all Micro Four Thirds-compliant lenses, including two new ones that Olympus will introduce later this year.

The Olympus E-M5 is available in the following configurations: body only, black or silver, $999; with a 14-42 mm f/3.5-5.6 II R lens, $1,099; or with an M.Zuiko Digital ED 12-50 mm f3.5-6.3 EZ lens, $1,299.