Panasonic has just announced the new Lumix GM1, its new ultra-compact mirrorless camera. Featuring a large 16-megapixel Micro Four Thirds-sized sensor within its retro-styled aluminum body, the GM1 measures only 98.5 mm x 54.9 mm x 30.4 mm. The Panasonic Lumix GM1 comes bundled with the new Lumix G VARIO12-32mm (24-64mm equivalent) f/3.5-5.6 Asph. MEG O.I.S. pancake zoom lens. The camera incorporates aluminum dials and a brushed metal finish, a 3.0 inch touch screen, pop-up flash and Wi-Fi connectivity. The GM1 will retail for $749.99 , while a release date is still to be announced; but you can already pre-order it now on Amazon .