(Pocket-lint) - 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.

Writing by Mike Lowe.