The Fujifilm X-E5 is basically an interchangeable lens X100VI
If you have ever looked at the X100VI said to yourself, "Man, I wish Fujifilm would just make an interchangeable lens version of this camera," consider your request answered. Four years after the release of the X-E4, the company has announced the X-E5, a compact, $1,699.95 camera that should appeal to the same crowd that loves X100VI.
Inside, the X-E5 has Fujifilm's latest X-Trans CMOS 5 HR sensor. That's the same sensor you'll find on the X100VI, X-T5 and X-T50. It's capable of capturing 40.2-megapixel stills, and video at up to 6.2K and 30 frames per second. Thanks to improvements Fujifilm has made to the sensor's pixel structure, the X-E5 offers a native 125 ISO, and there's AI-based autofocus to make it easier to capture moving subjects such as animals, birds, insects, motorcycles, planes and more.
Also new to the X-E5 is the inclusion of in-body image stabilization (IBIS). It offers up to seven stops of stabilization near the center of the frame and six stops toward the periphery.
Fujifilm has also once again tweaked the exterior of the camera. If the X-E4 was a bit too minimalistic for your taste, the good news is the X-E5 has a front grip where Fujifilm did away with that on the X-E4. The camera's top plate is machined from a single piece of aluminum, an addition that should make the X-E5 feel more premium than its predecessor. On the top, you'll find all the usual dials, including one for shutter speed and another for exposure compensation.
There's also an entirely new dial dedicated to Fujifilm's film simulations. In addition to the usual presets like Classic Chrome and Velvia, you can save up to three of your own recipes for easy access. As before, the external LCD can flip up 180-degrees to make it easier to capture selfies and vlog.
Fujifilm has also redesigned the X-E5's viewfinder. It offers two new modes. First, there's a "Classic" mode, which simplifies the interface so it's more like what you would find on an old film camera. All your exposure settings are displayed along the bottom of the screen in a deep red color, with the light meter present on the side. Alternatively, the other new mode, "Surround View," displays a black, semi-transparent or outlined area outside of the aspect ratio you've set. In practice, that should make it easier to frame your shots.
Alongside the X-E5, Fujifilm announced a new pancake lens, the XF23mm f/2.8 R WR. It's a full stop slower than the fixed, 35mm equivalent you'll find on the X100VI, but it's about the same size and should be a lot faster to focus thanks to inclusion of a direct current motor.
Fujifilm will offer the X-E5 in black and silver. The camera will be available starting in August. At $1,699.95 for just the camera body, the X-E5 is twice as expensive as its predecessor. In fact, it's more expensive than the $1,599 X100VI, which features a leaf shutter and hybrid optical viewfinder. Personally, I'm sad about that since the X-E4 was my recommendation for a great starter camera. Now I'll need to tell people to look elsewhere.

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