The Pentax K-01 is the second compact system camera from Pentax, though it doesn’t belong to the Q system. Instead, the Pentax K-01 is based around the established KAF mount.

This means that its compatible with the majority of Pentax K-mount lenses that go back decades. On top of this, Pentax has also announced a DA 40mm f/2.8 XS pancake lens to be paired with the K-01.

The Pentax K-01 employs a 16MP APS-C sized CMOS sensor – the same resolution as Pentax’s excellent K-5 and because of this, the K-01 has the same 1.5x crop factor as a Pentax DSLR. ISO ranges from 100-12,8600, and can be expanded further to an ISO equivalent of 25,600.

For video capture, HD footage can be recorded at full 1080p at either30, 25 or 24fps with h.264 compression. There’s also the option of shooting 60fps at 720p if you want to slow the action down.

For still shooting, the K-01 can shoot at up to 6fps, while there’s a built-in sensor-shift image stabilization system.

Because its a mirrorless system, there’s no optical viewfinder and while from the front it may suggest there’s a built-in electronic viewfinder, the K-01 relies solely on a 3.0in display with a resolution of 920k dots for composition.

The K-01 uses a contrast-detect system for AF, while there’s a Peaking Focus mode for precise manual focus.

The camera itself has been designed in collaboration with designer Marc Newson, and features an aluminium frame that is cloaked in either a black, white or yellow exterior.

The Pentax K-01 is expected to be available at the end of March and will cost £629.99 for the body only. If you want the 40mm lens as well, the price will be £679.99.

We’ve just come back from the official launch, so we’ll be able to give you more details, pictures and video very soon, so be sure to check back here.