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Fujifilm's XE-1 camera is more affordable version of X-Pro1

Fujifilm announces the XE-1, which resembles a smaller, more affordable version of the previously launched X-Pro1.

The little brother to Fujifilm's X-Pro1 has been revealed in the form of the XE-1, which boasts similar specs but could be yours for a chunk less dosh.

The XE-1 features the same 16.3-megapixel APS-C X-Trans CMOS sensor and X-Mount for Fujinon XF lenses as the previous model. Our friends across the pond will see it with a $1,000 (£625) price tag -- the official UK price will be announced later this month.

The retro-styled body is also around 30 per cent smaller than the X-Pro1, which sells for around £1,200. This leaves it at around the same dimensions as last year's Fujifilm FinePix X100.

Size certainly isn't everything here as the XE-1 still packs loads of high-end features, including a 2.36 million dot Organic LED (OLED) electronic viewfinder and built-in pop-up flash. We'll also see Full HD video shooting and a battery life of 350 shots from this more lightweight device.

With the XE-1 mostly targeted at advanced amateurs and as a back-up camera for pros, it squares up to the likes of the Panasonic Lumix DMC-GF5 and the Samsung NX20 -- two cameras we loved, so it faces stiff competition when it's released mid-to-late October.

Back in May, we had concerns over the lack of lense choices for the old X-Pro1, but Fujifilm has expanded its XF lens line-up to make five available by the end of the year. It's added the new XF14mm (21mm) F2.8 single focal length lens and XF18mm-55mm (27-84mm) F2.8-4 lens, to increase your options and decrease your bank balance.

The new camera will be shipped in two colours -- a solid black and a classic two-tone black and silver.

I'm really excited about the XE-1 and can't wait to get my hands on one, but in the meantime, what do you think? Will you be buying one or is this still likely to be too expensive? Let me know in the comments or on our Facebook wall.