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Nikon has a 'significantly smaller and lighter' 500mm lens in the works

But ironically no pictures to prove it.

Nikon's upcoming 500mm lens uses the same phase fresnel (PF) lens elements as its 300mm f4 lens (pictured).

Nikon announced today that its developing a super-telephoto 500mm f5.6 lens with image stabilization that's small and light enough to be used handheld. 

Super-telephoto lenses are a prized possession for sports and wildlife photographers, but they are large and back-breaking to haul around. The upcoming AF-S Nikkor 500mm f5.6E PF ED VR, designed for the Nikon's full-frame FX-format cameras, uses phase fresnel (PF) lens elements that makes it possible to reduce the overall size and weight of the lens.    

Nikon introduced a 300mm f4 lens back in 2015 (pictured above) using the same lens design. Although Nikon did not announce any other specifications or pricing, the 300mm f4 lens is 30 percent shorter and 1.5-pounds lighter (680 grams) than its predecessor and sells for $2,000, £1,709 and AU$2,700. Nikon expects it to be available later this year.