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By rights, the cameras in this category shouldn't exist by now—yet not only are they alive, they're thriving. These are electronic viewfinder (EVF) cameras, and they present serious competition for digital SLRs—even as DSLR prices continue to drop. How do they do it?
Consider: The current cheapest deal on an 8MP DSLR with a 10X or better zoom starting at true wide angle is a Canon Digital Rebel XT body ($790 street) and a Sigma or Tamron 18–200mm f/3.5–6.3 digital zoom ($400 street). A sweet deal at just under $1,200, yes, but for about $500 less , you can get a Fujifilm FinePix S9000, a 9MP EVF with the same equivalent focal length and a 2 /3-stop gain in lens speed.
Or consider this: For the same 700 bucks, you can get an 8MP Panasonic Lumix DMC-FZ30 with a jaw-dropping 35–420mm equivalent 12X zoom—plus an excellent optical image stabilizer. Still costs too much money? The Kodak EasyShare P850 has ample 5MP capture, a 12X f/2.8–3.7 zoom, and image stabilization—for $450 street.
That's how EVFs are competing: bang for the buck. They have longer zoom ranges, more megapixels, and wider apertures at prices that still undercut DSLRs—along with bonus goodies like built-in image stabilization and high-quality video.
But the two things that make the EVF possible—relatively small image sensors and the compact view-by-wire system—also make for the two major drawbacks of these cameras. Namely, digital noise and viewfinders that have the disquieting habit of freeze-framing when you're trying to track a moving subject. Manufacturers are addressing both problems, with larger sensors, improved noise reduction, and viewfinders with faster redraw.
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