Olympus Pen E-P1 Micro Four Thirds camera

Olympus is pitching the Micro Four Thirds format as combining the best bits of a digital SLR and compact camera.

The Pen E-P1 features interchangeable lenses, so you're not tied to just the one that comes with the camera but it's considerably smaller than a traditional digital SLR.

You can take shots up to 12.3-megapixel and it can even turn its hand high definition video too with the ability to capture footage at 720p resolution at 30fps (frames per second).

The Pen E-P1 will be available for £699 from 25 June from Jessops.