Nikon has announced an addition to its range of compact system cameras and it won't break the bank. The Nikon 1 S2 is an entry-level mirrorless camera that succeeds the S1 released more than a year ago and even with two kit lenses it'll still only set you back a little over £500.

The S2 has a 14.2-megapixel CMOS sensor, sensitivity range of ISO 200-12,800, with auto mode maxed out to 6,400, and the company's proprietary advanced hybrid autofocus. This 135-point AF system boasts 73 phase action points that lock on quickly and accurately.

Although it is at teh more budget end of the CSC range, it is still capable of shooting 10 RAW format pictures at up to 20 frames per second with continuous AF. Up to 60fps can be achieved with fixed focus.

The S2 can shoot Full HD video at 60 frames per second. And you can shoot in extreme slow motion at 400 or 1,200fps too.

Nikon has included a Nikkor 11-27.5mm f/3.5-5.6 zoom lens in the standard kit, which will retail for £379.99 when it hits stores in June. While the extended edition, at £529.99, also adds a Nikkor 30-110mm lens.

The Nikon 1 S2 will be available in black, red, white and yellow colours, although the second lens is only available with the black or white versions.