Rumors of a Nikon mirrorless camera have been floating around the web since the middle of last year, and recent leaks have made us wonder not if the company would release a compact ILC — only when such an announcement would be made. Well, we finally have our answer. The company has finally announced not one, but a pair of compact “1 System” mirrorless cameras, and it seems totally fine with putting the focus speed up against the self-proclaimed champ.

The V1 and J1 share nearly identical specs, with the latter model sporting some fairly minor tweaks. Both ILCs include 10.1 megapixel CMOS sensors, HDMI / USB connectivity, a 1200fps slo-mo capture mode (!), 3-inch LCDs, 10fps shooting, high-res electronic viewfinders, and full HD (1080/30p) video capture — though 720/60p and 1080/60i modes are thrown in for good measure.

The J1 touts a built-in flash, auto-noise reduction on movie clips, a 73-point AF system, dual-core EXPEED processing engine, and a 29 minute cap on single movie files (far greater than the five minute ceiling on its earlier DSLRs), while the V1 boasts an EVF and supports an external flash, as well as a mechanical shutter, stereo microphone input, a “multi-accessory port” and a magnesium alloy chassis.

If you’re curious about details on those, well the initial list includes a 10-30mm f/3.5-5.6 (kit lens), 30-110mm f/3.8-5.6 ($249.95), 10mm f/2.8 ($249.95) and a 10-100mm f/4.5-5.6 ($749.95), and a customized $149.95 Speedlight (SB-N5) flash will also be in tow. As for feature set? There’s a “Motion Snapshot” mode that snags stills as a video is rolling, and geotagging will be supported for those who opt for the $149.95 GP-N100 GPS hot-shoe accessory.

Furthermore, the company’s drilling home the “non-pro” theme with a gaggle of colorful straps and cases to match the rainbow’s worth of hues — white, pink, red, silver and black — that these guys will ship in.

The Nikon J1 and V1 will be available throughout the US starting October 20th, with the J1 + 10-30mm kit available for just $649.95. The V1, available with the same bundled piece of glass, will retail for $899.95.

SOURCE via Nikon