Fujifilm has just announced the XQ1 camera, an update to last year’s XF1. Working on the feedback from the first iteration, the new XQ1 is a tiny camera that packs a 2/3-inch sensor with an X-Trans CMOS II chip and Fuji’s newest EXR Processor II. A new Fujinon 25-100m f/1.8-4.9 lens instead of the XF1’s extending manual zoom lens makes for a much more user-friendly experience. With its strong technical specs the XF1 does pack a punch, however, it might lack enough manual setting options for more advanced photographers. Retailing for approximately $500 USD, the XQ1 will be released later this month.