Nikon 1 'Compact System Cameras' Due October 2011.

The Nikon 1 J1 the budget model of the new interchangeable lens camera range. The metallic, ultra sleek body houses a 10 megapixel 1" CMOS sensor and the EXpeed 3 processor. This combination provides suprisingly sharp and detailed images even in high iso and low light situations. Other features include high quality 3.0" 460K-dot TFT display and a 1080i video capability. The Nikon J1 is available in 3 different kits, with a 10mm lens, 10-30mm lens and a 10-30mm / 30-110mm twin kit.

The premuim model is called the Nikon 1 V1. It has the same CMOS sensor and processor as the J1 but this is where the similarities end. The Nikon V1 features a 920K-dot resolution display, full HD 1080P movie recording, 20fps continuous shooting, and a superb electronic viewfinder. The V1 is available in 3 different kits, with a 10mm lens, 10-30mm lens and a 10-30mm / 30-110mm twin kit.