It’s been rumored for awhile that Canon was looking at releasing a compact camera capable of 4K video recording to compete with the Panasonic GH4. The Internet has had some sneak peaks when Canon revealed it at an event ahead of the official launch but now we can safely say that the XC10 is official.

The XC10 features a 1″ CMOS sensor and a DIGIC DV 5 processor for 4K video recording. Bitrates go up to 305Mbps (4K) or 50 Mbps (1080p), contained in a new h.264 MXF wrapper. Stills are taken at 12 megapixels. There’s clean HDMI output as well as CFast and SDHC/SDXC slots. There’s a 3″ million dot tiltable LCD on the back.

The lens is a fixed 8.9 to 89mm F2.8-5.6 lens (27.3 to 273mm equivalent in video mode and 24.1 to 241mm in 4:3 stills mode.

For more information or to pre-order your XC10, head over to the product page at Broadway Camera.