Nikon has unveiled the new Nikon 1 J5, a 20.8MP mirrorless camera with prices that start at $500.

The camera is the first one released by Nikon that is able to record 4K ultra HD video, although only at a slow 15 frames per second. The Nikon 1 J5 is also the first camera of the company that features interchangeable lens along with a backside illuminated sensor, which is a technology that makes improvements on the performance of the camera in low-light situations.

The $500 starting price will have the camera come with a 3X zoom kit lens, and users will also have three options for the color of the device, namely pure black, black and silver, or white and silver.

The Nikon 1 J5 takes the top spot of the company's J-series of small cameras with interchangeable lens, which operate with a 1-inch CMOS sensor in the CX format. The sensor for the Nikon 1 J5, which includes technologies such as phase detection autofocus and contrast detection, promises the camera to be faster than that of its already quick predecessor, the Nikon 1 J4.

The Nikon 1 J5 also uses the company's EXPEED 5A image processor, which allows the camera to shoot up to a maximum of 20 full-resolution frames per second, with each image on autofocus. The frame rate can reach as high as 60 frames per second if the focus is locked before the burst shooting begins.

The camera also has a Sports Mode, wherein focus is optimized for the split-second shooting that is required when taking action shots. The company also said that shutter delay, or the time between pressing on the shutter button and the camera actually taking the picture, will almost be zero.

The Nikon 1 J5 also has several options for taking slow-motion videos, along with a time lapse feature and an interval timer. The Active D-Lighting feature of Nikon, which makes improvements on dynamic range, can also be used for taking videos.

Equipped with a 3-inch LDC touchscreen in lieu of a viewfinder, the screen is able to be flipped 180 degrees to take selfies. The camera also has several creative options for editing images, including the ability for users to apply fisheye, sepia, monochrome, and many more effects to their pictures.

The Nikon 1 J5 can also connect to Android and iOS devices through its Wi-Fi function for sharing pictures and for remotely controlling the device through the Wireless Mobile Utility app of Nikon. The camera also packs an NFC chip to quickly pair with NFC-capable smartphones.

Nikon has not specified a shipping date for the Nikon 1 J5, but did say that the camera will be out in the market soon.

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