THIS IS NOT A DRILL: OM System just teased what looks like an Olympus PEN-F II

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UPDATE:OM System Japan has dropped a second teaser for its new PEN camera, due to launch on September 09.

This time there is less focus on the new camera itself, as it remains entirely in shadow (unlike the original teaser, which gives us a great look at the body). Instead, it positions the new product as a new chapter in the history of the PEN lineup.

First it shows the original Olympus PEN half-frame film camera from 1959, then the Olympus PEN E-P1 from 2009 – which was the company's first ever mirrorless camera . Finally, it shows the outline of the new camera – which, as I discuss below, certainly looks like a PEN-F II. Or maybe a PEN E-P5. Or maybe something new altogether… 

ORIGINAL STORY: Has the day finally come? OM System has just dropped a teaser video for a new camera – and it sure as sugar looks like it could be a successor to the iconic Olympus PEN-F .

"Stay tuned. Something new is coming" states the text on the video (which I've embedded below) announcing a reveal on September 09. Unlike a lot of teasers, we get a surprisingly good look at the camera – which, as you can see, boasts the rangefinder-style silhouette of the manufacturer's PEN cameras (rather than the SLR-style shape of the OM series).

And I may be biased, so you tell me – take a look at the camera shown in the teaser next to three of my PEN cameras: the original Olympus PEN-F film camera, the PEN-F digital camera and the Olympus PEN E-P7 , which was the last PEN camera to hit the market:

As you can see, the new camera that OM is teasing bears the same signature two-tier top plate as the PEN-F digital. Most PEN models have had a similar design that homages the original film PENs, but as you can see with the PEN E-P7 – it has been much more subtle, with only the PEN-F digital having a stepdown that's anywhere near as pronounced as we see in the teaser.

Other signposts that we might be looking at a PEN-F II are the fact that the teaser camera has an electronic viewfinder (EVF). Famously, the PEN-F digital was the only camera in the product line that possessed an EVF.

Taking a look at the power switch, I'll grant you, it looks a lot more like the design found on the EP-7 (and it's on the same side, too). However, if you look at the second (rear) dial, you'll note that the E-P7 had both exposure dials on the top plate while the PEN-F digital had the rear dial positioned essentially on the back of the camera – in the same position seen on the teaser.

Finally, the E-P7 has a pop-up flash on the left shoulder and a tilt-only screen. As you can see, the teaser camera – like the PEN-F digital – has no pop-up flash and has a hinged screen that indicates a fully articulating affair.

So, does all this mean that we're looking at an OM System PEN-F II? Well, not necessarily.

While this is certainly a PEN camera, it's entirely possible that this is an evolution of the EP series or even a new line altogether. The old rules, under the Olympus regime, don't necessarily apply any more – so the fact that it has an EVF and articulating screen don't necessarily mean that it's a PEN-F.

But then, by the same token, the old Olympus missive that the PEN-F had to be a premium camera milled from a single ingot of aluminum – which made it a pricey camera that therefore sold under expectations – don't necessarily apply either. This can be a PEN-F that isn't made of aluminum and doesn't carry a high manufacturing cost.

If the Lumix L10 has taught us anything, it's that there is still a huge appetite for a pretty-looking Micro Four Thirds camera – which this new PEN, whatever its designation, is guaranteed to be. But it also has to have modern specs to match – and that's a department where OM System, which is still trotting out long-in-the-tooth 20MP sensors and underwhelming video specs, faces the biggest challenge.

OM has previously told me that every lens it launches will be weather-sealed, because it has styled itself as an outdoor brand. Thus, I expect this camera to be similarly sealed – and it would be the first PEN to possess the feature.

This might also explain what looks to be the OM System M.Zuiko 17mm f/1.8 II on the front of the camera in the teaser video. That's a perfect outdoor 35mm equivalent lens for street photography , so it would make sense, though it does pour cold water on hopes for a new pancake lens (like an upgraded version of the M.Zuiko 14-42mm EZ Pancake that doesn't suffer a fatal cable issue).

Whatever it is, we've only got a couple of weeks to wait until OM reveals what this new camera is, does and looks like. You can bet I'll be right there to tell you all about it – quite possibly with my credit card in hand…

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