Fujifilm XQ1 unveiled, the 'mini X20' compact camera that's gunning for Canon S120 space

Fujifilm is looking to close in on the competition with the announcement of its XQ1 compact camera.

The model incorporates the same 2/3-inch sensor size as found in the much lauded Fujifilm X20, albeit on a considerably smaller scale. It's gunning for a strong position up against the likes of the Canon S120 and Sony RX100.

READ: Sony RX100 II review

It looks like it might well achieve it too. The small-bodied compact offers a 25-100mm equivalent zoom lens with a maximum aperture ranging from f/1.8-4.9. That's close to the Canon competitor - well played considering the larger sensor size on board the Fuji.

The sensor is a 12-megapixel X-Trans CMOS II sensor, complete with Fujifilm's proprietary colour filter array to avoid moire and false colour while maintaining optimum sharpness.

There's no built-in viewfinder and no hotshoe available to add on an optional one either, with it instead relying in a 3-inch, 920k-dot LCD screen to the rear.

Elsewhere there's a built-in flash, EXR Processor II, raw and JPEG file shooting and Full HD video capture, plus a bevy of filter effects and wireless image transfer.

That's the skinny. If you want full fat then why not take a look at our hands-on first impressions with the Fujifilm XQ1, based on time with a pre-production model that we saw ahead of this announcement.

READ: Hands-on: Fujifilm XQ1 review

The Fujifilm XQ1 will be available from November, priced at £350. Sounds very competitive considering how much some competitors cost.