Here’s a new mouthwatering digital camera that you’d surely want to get your hands on. The Olympus E-P1 is the so-called Micro Four Thirds System camera that many photography enthusiasts have been waiting for. The Micro Four Thirds is a system that allows “high-picture quality digital-dedicated design.” The E-P1 is the latest digital camera to have this system. It is compact yet capable of capturing superior images with its 12.3-megapixel lens. The 3-inch LCD provides excellent preview of the still images taken.

The E-P1 is also has camcorder capabilities. It can record high-definition videos while giving the user the liberty to control the aperture, white balance, focus, and ISO. Videos can only be recorded at 720p30 into AVI files by means of a Motion JPEG codec. This SLR has built-in stereo for audio recording. Users can connect and playback content on HDTVs through the mini-HDMI port provided by Olympus.

The Olympus E-P1 will be available in July for $749 body only. The price tag climbs to $799.99 for both body and the 3.5x zoom lens. You’ll have to pay $899.99 if you want the Ep1 body with the fixed focal length lens. It will be available in silver or white.