Panasonic has revealed the upgrade to its premium compact system camera. The company has skipped straight to the Panasonic Lumix GX7, to replace 2011's Panasonic Lumix GX1.

The camera features a new 16 million pixel sensor, which Panasonic claims is "far beyond anything we have launched before" and can compete with larger (APS-C or DSLR format) sensors in terms of low light shooting.

A new Venus processing engine is also part of the package, which should help with noise control in low light shooting conditions.

Coming just a couple of months after Olympus revealed its top of the line Olympus PEN E-P5 compact system camera, the Panasonic GX7 features a magnesium body and will be available in a retro black and silver, as well as in an all-black model.

High tech

A range of other high-end features are also included on the Panasonic GX7, such as inbuilt Wi-Fi and NFC technology, a 1040k-dot tilting LCD screen, 1/8000 second maximum shutter speed and focus peaking.

Unlike the Olympus PEN E-P5, the Panasonic GX7 has a built-in viewfinder, which can tilt up from the body for composing from above. This 2760k dot device is designed to sit relatively flush to the body.

Other specifications include 22 digital filters, silent mode, pinpoint AF and the ability to create stop motion animations in-camera.

The Panasonic GX7 price depends on the kit variation. The body-only price clocks in at £819 (around US$1,255 / AU$1,365), while it will cost £899 with the standard 14-42mm lens included. A kit which includes a 20mm f/1.7 lens will also be available for £999 (around US$1,530 / AU$1,665).