On September 21 2011, Nikon announced the iconic Nikon 1 system, which represents a new category of camera that challenges conventional thinking, emphasizing a pocketable form factor with unbelievable speed, combined with the high image quality. The Nikon 1 J1 is an advanced camera with interchangeable lenses with the new 1 NIKKOR lens system that comes with a fast new hybrid Autofocus (AF), and fast speed with continuous AF. Users can capture a high quality image while simultaneously recording Full HD 1080p movies, together with the new Motion Snapshot mode that combines moving and still images. The J1 camera features the new Nikon developed CX-format, 10.1 Megapixels High-Speed AF CMOS sensor, supports ISO range of 100-3200 (6400 Hi-1), 73-point AF system, continuous shooting at 10 fps (or 60 fps with AF locked) at full resolution, and can capture Full HD movies at 1080p 30 fps, or 1080i 60 fps, with additional 30/60/400 and 1200 fps modes for super slow motion effects.

The Nikon V1 adds features such as a 1.4 million dot high resolution EVF, a high-speed electronic shutter, the magnesium alloy body, stereo microphone input, and a Multi-Accessory Port for attaching options such as the new SB-N5 compact speedlight, or the GP-N100 GPS module. The Nikon J1 and V1 will be available beginning October 20th. The Nikon J1 camera with 10-30mm lens kit is listed for retail at $649.95, while the V1 camera with 10-30mm lens kit is listed for retail at $899.95.