Micro Four Thirds system
Olympus and Panasonic started a new development together, called the Micro Four Thirds system. It was an interchangeable lens system, with the Four Thirds sensor size, and no mirrors (Mirrorless Interchangeable Lens Camera). The lack of mirrors allowed the camera body to be a lot smaller than that of a DSLR, while maintaining its image quality and the interchangeability of the lenses. The first product in the Micro Four Thirds system was the Panasonic Lumix DMC-G1, released in 2008. The first Olympus-branded MFT camera was the Olympus PEN E-P1. Because it was very expensive, they made a cheaper option, called the Olympus PEN Lite E-PL1. The market growth of the MILC cameras made Olympus introduce a new series in their lineup, which was the modern, digital implementation of the legendary OM series, the OM-D. It maintained the Micro Four Thirds system, but added a built-in electronic viewfinder, a more ergonomic button layout packaged in a retro style chassis. The first model in this family was the E-M5, released in 2012. Since then, Olympus has developed their two lines (PEN and OM-D) and the Micro Four Thirds system, still alongside Panasonic. The latest Olympus camera is the Olympus OM-D E-M10 Mark IV as of August 20, 2020.