Complex sentence: The Olympus E- 1 successor codenamed Olympus E-P1 is now known as E- 3 is expected to be introduced in early to mid october 2007 and will be Olympus Corporation's flagship professional camera in its Four Thirds System when launched.
Split into simpler sentences: The Olympus E- 1 successor codenamed Olympus E-P1 is now known as E- 3. The camera will be Olympus Corporation's flagship professional camera in its Four Thirds System when launched.