OM System finally replaced the iconic Olympus PEN-F — and the new retro PEN camera is shockingly affordable

• First new 'PEN' digital rangefinder with the OM System name unveiled
• It costs from $999.99 / £849 (Australia pricing TBC)
• New 14-42mm f/3.5-5.6 Mark III kit lens launched alongside the camera

Olympus fans, the day has finally come — OM System has relaunched the Olympus PEN series and put its name on it, with the new OM System PEN.

The new PEN carries the torch of the iconic Olympus PEN-F, with a classic and compact retro form factor and a low-cost plastic body to keep costs down (rather than aluminum). I must say it looks every part the travel and everyday mirrorless camera, with an equally and surprisingly attractive entry-level price point more in line with the PEN E-P7.

Whereas the (slightly pricier) five star-rated EM-5 Mark II has a viewfinder bump (which also looks great in my opinion), the OM System PEN is a 'rangefinder' style mirrorless camera, with the same 2.36m-dot OLED viewfinder that sits flush in the body instead.

And the specs are just as attractive as the IPX1-rated dust- and splash-proof body; the same 20.4MP micro four thirds sensor with 5-axis image stabilization rated up to 5.5EV, 121-point phase detection autofocus with subject detection AF for people and animals, plus a host of computational photography modes that are an absolute blast to play with — my OM-3 review paints a picture of how fun modes such as Live ND can be.

OM System has also added various color profiles, including two 'Cinema' picture modes designed for 4K video recording, and once again included a color/monochrome switch on the camera's front which packs numerous film-inspired looks.

The camera uses OM System's BLS-7 battery, which delivers a generous 410 shots on a full charge, while USB-C charging further enhances its travel-friendly credentials.

When you consider the retro IPX1-rated body, built-in viewfinder, and stabilized sensor, the PEN feels like exceptionally good value, even if it features a dated micro four thirds sensor which is smaller than APS-C and full-frame, and adds very little that is actually new.

For me, however, the format has always delivered a compelling mix of quality, power and features, and is an easy recommendation for people stepping up from a smartphone, who will find the computational modes addictively fun and somehow familiar.

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(Image credit: OM System)

(Image credit: OM System)

(Image credit: OM System)

(Image credit: OM System)

(Image credit: OM System)

(Image credit: OM System)

It was the PEN series that we have been waiting for OM System to refresh since the Olympus acquisition, and now that day has come the new compact mirrorless model does not disappoint.

Pricing-wise, the new PEN becomes OM System's entry-level model — $999.99 / £849 bags you the camera body, in silver or black, or for an extra $100 / £100 the kit with the new mark III version of the 14-42mm f/3.5-5.6 lens, which was launched alongside the camera, with both due to go on sale from October 1. I'll update this page with Australia pricing when I get it.

I can't wait to get my hands-on the camera — if it's anything like the previous OM System cameras I've reviewed, it'll be so much fun to test. For me, the OM System PEN looks like a best beginner mirrorless camera of the year contender.

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