Olympus has officially unveiled the OM-D E-M1 Mark III: a lightweight and compact Micro Four Thirds camera that packs a 20MP sensor, new image processing tricks, and “the world’s best image stabilization” that combines in-body and in-lens technology for up to 7.5 stops of compensation.

At the core of the E-M1 Mark III is the same 20.4MP Live MOS sensor with 121 cross-type focus points and 18fps max burst rate (with AF/AE tracking) that you’ll find in its predecessor. It also uses the same 2.36M-dot EVF and 1037K-dot vari-angle LCD as the Mark II.

But this time, that sensor is powered by a new TruPic IX processor and placed on an even more capable in-body stabilization system that’s built around the gyro sensor from the more expensive E-M1X. This allows the camera to deliver up to 7 stops of 5-axis Body IS or 7.5 stops “Sync IS” when used with compatible stabilized lenses like the M.Zuiko Digital ED 12-100mm f/4.0 IS PRO.

Beyond the stabilization, most of the advancements to the camera come courtesy of the new TruPic processor.

The E-M1 Mark III inherits the 50MP hand-held high-res mode and Live ND functions from the E-M1X, and the AF system is more capable thanks to features like Starry Sky AF for astrophotography and Advanced Face/Eye Priority AF for shooting portraits. There’s also a tripod high-res mode that lets you pump the resolution all the way up to 80MP, assuming minimal motion in the shot, of course.

Finally, the E-M1 Mark III is as rugged and reliable as ever—with a magnesium alloy chassis that’s dust-, splash-, and freeze-proof—and it features the same dust-resistant sensor coating as the E-M1X, which allegedly reduces dust spots in images by “up to 90%.” Oh, and there’s also a new joystick where the Info button used to be, so focus point selection should be a lot more convenient when looking through the viewfinder.

Here’s an overview of some of the key features we mentioned above, and a closer look at the new camera:

All of these advancements more-or-less make the E-M1 Mark III a “baby E-M1X” that’s a lot easier to carry around. But unfortunately, this designation also applies to the camera’s price point.

The Olympus OM-D E-M1 Mark III will begin shipping on February 24th for $1,800 for the body-only, $2,500 when bundled with the M.Zuiko Digital ED 12-40mm f/2.8 PRO Lens, and $2,900 when paired with the M.Zuiko Digital ED 12-100mm f/4.0 IS PRO Lens. A hefty price to pay when APS-C and even full-frame competitors are selling for a similar price… or less.

To learn more about this camera, head over to the Olympus website or check out our hands-on review.