"In development" announcements have recently become popular with camera and lens manufacturers as the way to reassure fans that they're really working on something great after long months (or years) of silence. But Ricoh's announcement that a GR III -- the update to its fixed-focal-length, APS-C compact -- is "currently under development" with few details seems a little desperate for Photokina 2018, especially since it's not slated to ship until early 2019.
Ricoh says it's redesigned the lens and will have an updated image sensor and processor. Since the GR II is three years old, those are pretty much a given for any update. Fujifilm offers its only real competition and has both ends of the spectrum covered with the ultracheap upstart $500 and the veteran favorite, stuck-at-$1,200-all-these-years, line. Let's hope Ricoh has some surprises for us in 2019.