Ricoh GR Digital III announced

After months and months of rumors on the update to Ricoh’s GR Digital series, the Ricoh GR Digital III is finally here. One of the notable details floated around was indeed correct: the new fast–aperture 28mm f/1.9 GR lens.

Here’s the list of highlights for the GR III:

• 28 mm/F1.9 GR Lens
• GR Engine III
• 10 megapixel high-sensitivity CCD and AFE
• Pixel output interpolation algorithm
• Multi-pattern auto white balance
• Fast AF even in low-light situations
• Full Press Snap
• Pre-AF mode
• Continuous shooting and high write speed
• AE/AF target shift
• Extensive exposure modes (Shutter speed priority AE newly added)
• New macro mode system controls field curvature
• Dynamic range double shot (In–camera HDR!)
• Aspect ratio 1:1 square format mode
• Flash synchro setting
• Manual flash amount setting
• Three types of bracketing
• Magnesium body for superior reliability

The GR Digital III is certainly better than the GR II. Unfortunately, there are curious omissions like HD movie recording—it still records in 640×480 pixels! Compared to the Panasonic Lumix LX3, it’s a close battle with the LX3 taking the lead in movie recording and lens performance, at least on paper. More importantly, the GR III is priced above USD $500, making it more expensive than its direct competitors. Unless Ricoh lowers its price, the GR III might just be the same as its GR and GX siblings—good cameras that could’ve sold more.