After years of relative stagnation, Nikon's P-series is back. The Canon PowerShot-inspired Coolpix P7000, released late last year, now has a little brother - the P300. Both in terms of specification and styling, the P7000 was designed to rival Canon's Powershot G-series, but the P300 is pitched a little lower.
Although at first glance it looks a lot like the Canon Powershot S95 and Olympus XZ-1, the P300 is a significantly different camera in a couple of important ways. It offers higher resolution, at 12MP rather than the 10MP common in that class. It also offers Full HD video (1080p as opposed to 720p), but its true colors are betrayed by a lower price-point, a smaller sensor (1/2.3" as opposed to 1/1.6" or 1/1.7"), and the inability to record RAW files. Whether or not you care about the smaller sensor and lack of RAW depends on your priorities as a photographer, but we suspect that a lot of enthusiast photographers will be disappointed that Nikon hasn't taken the opportunity with the P300 to create a true S95/LX5 competitor.
And so, despite obviously being designed to appeal to the same audience as the Panasonic LX5 and Canon S95, the Coolpix P300 is actually a lot closer in specification terms to a camera like the Canon SD 4000 IS/IXUS 300 HS. Like the SD 4000 IS, the P300 offers excellent build quality and manual control in a genuinely compact body, for less cash than the larger sensor, RAW-enabled Powershot S95, or its 'big brother' the Coolpix P7000. The P300's lens is optically stabilized, covers a useful 24-100mm (equivalent) range, and is impressively fast at wideangle, if unspectacular at the long end (f/1.8-4.9). The rear 3in LCD screen is bright and contrasty with 921k dots - the same specifications as the screens in Nikon's mid-range and top-end DSLRs.
The market for high-end compact cameras with a small form factor is booming at the moment, which is evidenced in the rash of new releases in the past few months. We're certain that, purely because of its styling, a lot of consumers will regard it as a cut-price alternative to cameras like the Canon Powershot S95 and Panasonic Lumix LX5. It certainly offers comparable build quality and manual control but its sensor is 35% smaller and that's arguably the most important determinant of image quality, so we'd expect its performance to be more in line with regular compacts. Read our hands-on preview for our impressions of how it works, and how it compares to its peers in terms of usability and specification.