The new 24-megapixel, full-frame Panasonic LUMIX DC-S5 mirrorless camera is the fourth model in the S-series and borrows features from its higher end siblings, the S1 and S1H. The latter are relatively large and heavy for mirrorless but Panasonic packed a ton of features and functionality into this new smaller and more affordable body. At $2,000 (body only; $2,300 with the new 20-60mm f/3.5-5.6 kit lens), the S5 is priced the same as its closest competitors, the Nikon Z6 and the Sony a7 III, and is only $500 more than the Canon EOS R6. (If you pre-order the Panasonic S5 by September 30, you’re eligible to receive a free SIGMA 45mm f/2.8 DG DN L-mount lens—while supplies last, of course.

Built around the same 24-megapixel sensor as the S1, its compact body—constructed over a magnesium alloy chassis—measures 5.22 x 3.82 x 3.22 inches and weighs about 1.58 pounds (with SD card and battery). The body is dust- and splash-resistant, too, so it should easily stand up to moderately challenging conditions, like beach weddings. And it features an L-mount for compatibility with Panasonic, Leica and Sigma lenses.

A double SD card slot accommodates one UHS-II and one UHS-I cards. A new battery provides around 470 shots using the Live Viewfinder (LVF) and up to around 1,500 shots when the LVF is set to Power Save mode. There’s a convenient USB-C port that not only charges but powers the system as well and the camera has a fully articulating, 3-inch touchscreen LCD.

Five-axis in body image stabilization (IBIS) alone promises five stop compensation; add a stabilized LUMIX S-series lens for an additional 1.5 stops—for both still and video capture. Autofocus speed and accuracy has been improved and includes head, eye, face and body detection. With a continuous shooting speed of up to 7 frames per second (5fps with continuous AF and tracking), it’s unlikely the S5 will be the camera of choice for sports shooters it has a lot of other impressive attributes. If you need faster continuous shooting, check out its 6K Photo, which enables the S5 to capture up to 30fps (18 megapixel JPEGs).

One of the features that sets the S5 apart from its competitors is its high-res mode. Shifting the sensor 8 times during a high res shot delivers a 96-megapixel JPEG or Raw image for those special projects.

A first for full-frame mirrorless, Panasonic has included Live Composite in the S5. While this may not be an everyday feature, it’s perfect for creative night shooting including some types of astrophotography and light painting.

But there’s a lot more to this camera including its Dual Native ISO, a technology Panasonic first introduced in its VariCam line-up. The two base ISOs in the S5 are 640 and 4000. You can learn more about Dual Native ISO here. Basically, you can choose (or have the camera choose, depending on light levels), which path you want the S5 to choose to minimize image noise. Choosing the 4000 ISO base when shooting video at a darkly-lit reception will exhibit less image noise than the same ISO bumped up from a lower base starting point.

Videographers and cinematographers will appreciate its 14+ stops of dynamic range and its V-Log/V-Gamut. The former offers greater latitude when post processing and the S5’s V-Gamut provides a broad color space. And with the S5, you can load your own LUTs. In fact, users will have access to free downloads of 35 conversion LUTs developed for Panasonic VariCam cinema cameras. Users also have access to Waveform Monitors, V-Log View Assist and anamorphic lens support.

The LUMIX S5 is capable of recording 4K 60p 4:2:0 10-bit and 4K 30p 4:2:2 10-bit internally for up to 30 minutes and 4K 60p 4:2:2 10-bit HDMI output. There’s no time limit for 4K 30p 4:2:0 8-bit internal recording. Slow & Quick mode provides, as the name implies, slow and quick motion videos and in Full HD, the S5 can record video at up to 180fps.

But Panasonic has even bigger plans for the LUMIX S5 with a future firmware update. These improvements include RAW video output to ATOMOS NINJA V over HDMI and C4K video recording. Keep an eye on the Panasonic site for more news on that, as well as more details about the LUMIX S5 and some cool videos of the camera in use by the pros.