There has been much talk about the C300 Mark II, but it has finally been announced.

[Update]: Scheduled for a September 2015 release, you can now pre-order the C300 Mark II at $16,000. The EF version is here and the PL version is here (both are the same price).

The Canon C300 has been a workhorse for lots of productions, from docs, to TV, to even feature films, but considering its age, it was only a matter of time before Canon was going to announce a new version with specs that better reflected what the competition was offering, including internal 4K (and external 4K RAW). We got that today and more, including a claimed 15 stops of dynamic range, which is right up there (and possibly surpassing) the best cinema cameras out there. It also features Canon's own flavor of the H.264 AVC codec called XF-AVC, which is wrapped in an MXF (as the previous C300 had done).

The body is very similar to the old C300, but it has a redesigned top handle with new LCD/audio design (which looks more sturdy). Canon also has decided to allow the mounts to be changed between EF and PL (and also locking EF), but these will need to be replaced by Canon themselves.

They've also gone with two CFast 2.0 card slots (and one SD Card slot) instead of Compact Flash. These are obviously much more expensive right now, but prices are coming down, and they ensure the speeds needed for 4K. The SD slot is capable of recording 2K/HD in 4:2:0 35Mbps/24Mbps Long GOP.

Thanks to Newsshooter and cinema5D for the scoop on these, here is a look at the specs of the C300 Mark II (these will be updated as we learn more):

9.84 megapixel Super35 CMOS sensor (rolling shutter, but twice read speed than previous C300)

Dual Digic DV5 Processors

4K/UHD up to 30fps Internally at 10-bit 4:2:2

2K/HD 10/12-bit 4:4:4 up to 60fps, Cropped 2K/HD mode up to 120fps

XF-XAVC Intra 410/225/220/110Mbps and XF-XAVC Long GOP 50Mbps

XF-XAVC Long GOP 35Mbps and 24Mbps for Proxy

15 Stops of Dynamic Range

4K RAW Externally (Can record 4K internally and 4K RAW externally at the same time)

While shooting 4K, can record proxies in 8-bit 4:2:0 at 35mbps or 24mbps in 2K/HD

Flatter Canon Log Gamma 2 (and Canon Wide DR)

Baked in Looks Option Allows Matching the Image of Other Cameras Internally

ISO Up to 102,400

Dual CFast 2.0 Card Slots

Dual 3G-SDI & HDMI (Unclear if the HDMI can output 4K)

Supports BT.2020, Canon Cinema Gamut, and DCI-P3 Color Spaces

XF-AVC intra for 4K, and XF-AVC Intra/Long GOP and Proxy options for 2K/Full HD

Internally ND up to 10 stops in expansion mode

Dual Pixel CMOS AF (now covering approx. 80% of the frame vertically and 80% horizontally)

Audio: 4 Ch. 16/24 bit and 48 kHz, Built-in mic for scratch track

Rotating 4" LCD

OLED EVF 1024 x 576

Uses new batteries different from the Original C300

Weight: 4 lbs. Body only, Over 7 lbs. with everything

Availability: September 2015

Price: Listed at $16,000 (may or may not change upon release)

It looks like Canon checked off a ton of boxes on this one, including internal 4K. While it seems like frame rates are limited, I imagine those are probably saved for the new C500 camera which we may also get at NAB 2015. Cropped 2K at 120fps isn't bad, but it is outclassed by the Sony FS7 which can go all the way to 180fps, and can also do 4K at 60fps. Clearly this is a step up from the original C300, which was limited to 60fps at 720p. Getting 4K RAW in this model also makes a lot of sense, though you will need an external recorder to get it.

It's unclear if the HDMI can output 4K, but we will probably find out soon enough. Canon likely has more up their sleeve for NAB, so we will have to wait and see. Looks like list price for this was $20K, so the $16K should actually be the street price as that's what the pre-order says now (but again, it's not impossible for this to go lower, but $16K looks like the price).

Either way, regardless of specifications, expect this one to be a workhorse just like the last one.