Looking for a fixed-lens, high-end, compact camera? Ricoh might have the answer for you with their recently unveiled GR Digital IV camera, which is the successor to the company’s GR Digital III. With the GR Digital IV camera, there are some upgrades that hopefully some of you will find to justify the price.

For starters, Ricoh has upgraded the autofocus system on the GR Digital IV, and brought with it a new imagine engine and an improved optical filter. This new autofocus system is said to be twice as fast compared to the GR Digital III. It also sports a brand new 3” VGA LCD at the back of the camera.

The camera itself will be sporting a 10MP sensor with a fixed 28mm/f1.9 GR lens with 4x digital zoom. It will support SD and SDHC memory cards as well as wireless transfer by Eye-Fi SDHC storage cards. For those who love to have more control over the editing of their photos, the GR Digital IV is also capable of shooting in RAW format.

The Ricoh GR Digital IV will be available in two colors – a black color version which will cost $790, and a limited edition white version that will set you back $1,027.

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