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Canon has finally announced their first mirror-less and interchangeable-lens camera, the EOS M.

Arguably designed for novice users looking to upgrade the quality of their photos while keeping the smaller form of a point-and-shoot, the Canon EOS M has been modeled around a new “EF-M” lens mount. Two EF-M lenses will be available at the launch of the new camera. They include the EF-M 22 mm “pancake-style” f/2 STM lens and the EF-M 18-55 mm f/3.5-5.6 IS STM lens. Canon also plans to bundle the pancake lens with the camera later this year.

Using an APS-C-sized, 18-megapixel CMOS sensor, the EOS M is sure to produce some excellent image quality. It also includes a full HD, 1080p movie mode with manual exposure control and manual audio level adjustment, as well as continuous auto-focus and tracking of subjects in motion. Recording in the MPEG-4 AVC H.264 video format, the EOS M can record in 1080p up to 30fps, 720p up to 60 fps and standard definition as well. The camera also comes with a built-in stereo microphone as well as a video snapshot mode.

On the back of camera, Canon has included a 3.0-inch touch screen LCD that offers the ability to “pinch-to-zoom” for resizing photos, as well as swiping to navigate through a batch of recent photographs or videos. When the camera is in operation, the user can simply tap the screen to engage face detection and subject tracking. The Clear View LCD monitor also utilizes a smudge-resistant coating in order to cut down on fingerprints during operation.

Canon EOS M features:

• 18-megapixel APS-C-sized CMOS image sensor
• DIGIC 5 Image Processor
• New Canon EF-M lens mount system
• Compatible with all EF lensed thanks to an optional EF-EOS M Mount adapter
• ISO 100-6400 (expandable to 12800 in H mode) for video recording, ISO 100-12800 (expandable to 25600 in H mode) for still image shooting from bright to dim light
• Multi-shot Noise Reduction to improve photo detail at high ISO speeds.
• Full HD Movie mode: 1080p video at 30p (29.97), 24p (23.976) and 25p, 720p HD video at 60p (59.94) or 50p and Standard Definition video at 30p (29.97) or 25p
• Manual exposure control
• Multiple resolution frame rates
• Built-in stereo microphone
• Manual audio level adjustment
• Video Snapshot mode with touch-screen editing
• 3.0-inch, 1,040,000 dot, touch screen LCD monitor.
• Scene Intelligent Auto mode, Handheld Night Scene mode and HDR Backlight Control mode.
• Compatible with SD/SDHC/SDXC memory cards, as well as Ultra High Speed (UHS-I) cards.
• Compatible with Canon’s GPS Receiver GP-E2 and all Canon Speedlite accessories.

The Canon EOS M is expected to be released during October 2012 and bundled with the EF-M 22 mm f/2 STM kit lens for a price of $799.99. While the camera will be available in black at most major retailers, a white version will be sold exclusively through Canon’s official site.

Also during October 2012, Canon will release the EF-M 18-55 mm f/3.5-5.6 IS STM lens ($299.99), an optional EF-EOS M Mount Adapter ($199.99), as well as a new compact and lightweight flash unit called the Speedlite 90EX ($149.99). The Speedlite 90EX is capable of coverage for 24 mm wide-angle lenses (35 mm equivalent) with maximum guide numbers of 30 feet (9 meters) at ISO 100.

The Canon EOS M has already stirred up quite a conversation in the MM Forum, with members discussing its pros and cons, and the importance of a viewfinder, which the EOS M lacks.