This morning, Panasonic announced its Lumix S5 full-frame mirrorless camera. Featuring a compact and lightweight design, the S5 boasts a 24.2-megapixel CMOS sensor and Venus Engine.

The camera offers impressive specs for both stills and video, including UHD 4K60 with 10-bit internal recording.

On the stills side, the camera supports an ISO range of 100-51200. It also has a 96-megapixel High-Res Shot mode, and a 225-area Depth from Defocus (DFD) autofocus system that offers 7fps in continuous shooting mode. A 5-axis sensor-shift image stabilization system helps to control camera shake. The body design also incorporates a 2.36 million dot OLED electronic viewfinder and 3.0″ touchscreen LCD. The camera also has Dual SD memory card slots, and a splash and dust-sealed design.

For video, the camera offers Dual Native ISO and integrated V-Log and HLG settings to capture 14 stops of dynamic range.

The Lumix S5 is available as body only ($1997.99) or as a kit with the Lumix S 20-60mm f/3.5-5.6 lens ($2297.99). Preorders are now available.

The company also announced it would release a firmware update by the end of the year that would add support for internal DCI recording, video assist functions like Vector Scope Display and SS/Gain Operations, as well as L.MonochromeS and L.ClassicNeo photo styles.

For a complete first look, check out this video by B&H Photo.