Panasonic has just announced the new Lumix GM1, making it the smallest Micro Four Thirds camera to date. The tiny mirrorless camera packs a 16-megapixel Micro Four Thirds-sized sensor inside its 98.5mm x 54.9mm x 30.4mm body. The Four Thirds and Micro Four Thirds market has been steadily growing to accommodate the demand for more portable DSLR cameras, making the Lumix GM1 a welcome addition. The camera also features a three-inch touchscreen, pop-up flash and Wi-Fi capabilities. A new 12-32mm (24-64mm equivalent) f/3.5-5.6 collapsible kit lens will be released to go with the new smaller body. The GM1 will retail for $749.99 including the 12-32mm kit lens, while a release date is still to be announced.