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Panasonic is set to launch the LUMIX DMC-CM1, a unique Android smartphone with a large 1-inch image sensor and a fast 28mm f/2.8 lens.

Panasonic says the CM1 is the answer to the question, "Do I capture this moment with my camera or is my smartphone sufficient?"

While the CM1's 1-inch (13.2 x 8.8mm) sensor is not as big as those found in Four Thirds (17.3 x 13mm), APS-C (23.6 x 15.7mm) or full frame (36.0 x 24.0mm) cameras, it is significantly larger than the average smartphone sensor – including the iPhone 6 with its 4.8 x 3.6mm sensor and the Samsung S6 with its 5.8 x 4.0mm sensor. Generally speaking, larger sensors should be less susceptible to noise at high ISO settings.

The MOS sensor in the CM1 is capable of capturing 20-megapixel stills (JPEG and RAW) and 4K video (3840 x 2160 pixels) at 30 frames per second.

The ring on the lens barrel can be used to control aperture, shutter speed, ISO, white balance, exposure compensation or focus. There's also a 4.7-inch 6,220,000-dot monitor on the back of the device and a dedicated shutter button on the top deck. A slider switches between camera and smartphone operation.

The DMC-CM1 is built around a Qualcomm 2.3 GHz quad-core processor and uses the Android 5.0 Lollipop operating system. It will be available in mid July with a retail price of $1,399.

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