It's Fujifilm Day

Not only has the new X-E5 been announced—check B&H or any of the usual suspects for details, I'm sure the information is all over the place—but also, coming up soon, we should have a reader's take on the GFX 100RF as well.

Not that the X-E5 is unwelcome news—the X-E4 has been discontinued since the end of 2023, and the series certainly has its fans and its user base—but there's also a new lens that's of particular interest, to me at least. It's the Fujifilm XF 23mm ƒ/2.8 R WR, a new pancake 35mm equivalent. It's an interchangeable lens, and will fit on any Fujifilm X-mount camera. 

The talking points (this is from the brochure) are as follows: 

• Incredibly light and small
• Uncompromised optical construction
• Super-smooth bokeh
• 20 cm close focusing
• Weather resistant design
• Fast, reliable autofocusing.

To unpack that just a little, 1.) the lens weighs only 90 grams (3.17 ounces), and is less than an inch long—.91 inches to be exact. And that's with an aperture ring and a focusing ring. 2.) Fujifilm states that the lens is "a masterpiece of modern lens design." Might just be marketing-speak, but until proven otherwise you have to pay attention to that coming from Fuji, which has a long history as a lensmaker. 3.) that they'd make bold claims for the bokeh indicates that they were probably paying attention to it, although we'll know soon enough. 4.) close-focusing doesn't really mean much with a 35mm-e lens, but it does mean you'll never, or very seldom, run up against that limitation. This is of course more important with longer lenses, but still. When did you ever have a problem with a close-focusing limit on a 35mm? I never have. But I sure have with 100mm short teles, for instance. 5.) "weather resistant" usually means: don't dunk it under water, but you'll be okay in limited exposure to light or medium rain. I have to say this is simultaneously good and bad. I'd rather my lens be resistant to water incursion, but then again, when it's just "resistant," how are you supposed to know where the limit is? It's not like you can experiment. 6.) this is mainly important as reassurance, since other pancakes, such as the venerable Panasonic 20mm, are known to be slowish focusers. So this is good. 

Pictures:

I used the silver pictures because they're easier to see, but the lens is available in black as well. The black "innie" hood was included in the folder with the silver-lens pictures from Fujifilm, so I assume it's black regardless of which color lens you buy. That's good by me, as hoods should be black at least on the inside. 

This lens or the 27mm (more on that in a sec) would be perfect for a "nested pair"—a high-end, all-purpose zoom such as the 16–80mm for concerted, dedicated photographing, and then a small, light compact or pancake lens as an EDC (everyday carry—the phrase comes from firearms, of which I am not a fan, but it's also used on pen forums, which is why it's in my head). The two lenses cover everything you need for general photographing. 

Re the older 27mm, I would strongly recommend trying both before you settle on one. It's being bandied about that the new 23mm pancake won't be available as a standalone lens for six months—I haven't confirmed that—so you'll probably have plenty of time to think about it.

Pancakes are very handy for "smallening" larger cameras. It's not like Fujifilm doesn't have compact options—the Fujicrons (the ƒ/2 lenses—the word is a portmanteau of Fujifilm and Summicron, Leica's term for ƒ/2 lenses) are very handy already. Still, I'd love to heft my X-T4 with this new pancake on it. Bet I'd like it. 

...If I like the way the new lens renders, of course. Always a big IF. Only time will tell on that. I will point out that spec'ing the lens to be one stop slower allows lens designers a lot of extra leeway for correction. 

I've asked Fujifilm for a review copy of the X-E5 and 23mm pancake. I'm assuming little TOP (and unreliable me—I'm flaky by nature) go to the back of the queue, but we'll see what happens. 

Mike

Original contents copyright 2025 by Michael C. Johnston and/or the bylined author. All Rights Reserved. Links in this post may be to our affiliates; sales through affiliate links may benefit this site. As an Amazon Associate I earn from qualifying purchases. (To see all the comments, click on the "Comments" link below or on the title of this post.)

Featured Comments from:

David Raboin: "I don't need another camera. My current rig satisfies my every photographic need, but this new Fuji creates a strong buyer's itch. I'm picturing myself walking around a foreign city looking so smart with this little Fuji and a stylish bag full of jewel-like lenses. Fuji sells a fantasy lifestyle as much as they sell cameras."

G Dan Mitchell: "There is a lot to like about about the X-E5—IBIS, 40 MP, its slight refinement of the XE design, upgraded AF, etc. The XE models (I once owned the X-E1 and I have access to the X-E4) have long been appealing to those who wanted the smallest possible X-Trans body, the manual controls, a significantly lower price, and the same IQ as the high-end models. Therein lies a problem. The pricing history of the XE. line is as follows:

• X-E1: $999 (at the time the only ILC x-trans other than the Xpro)
• X-E2: $799
• X-E3: $849
• X-E4: $849
• X-E5: $1,699

"Wait! $1,699?! That’s a typo, right?! No. Fujifilm doubled the price from the previous model."

Frank Colen: "The pricing of the X-E5 relative to the rest of the Fuji cameras makes total sense in the UK: It is more or less exactly the same price as an X-E1 at launch, exactly the same as an X-T50 and much less than X-T5 and a little bit less than X100VI if bought as a kit:

• X-E5 body: £1,299
• X-T50 body: £1,299 (launch price)
• X-T5 body: £1,699 (launch price)
• X-E1 body only: £899 (launch price 2012) corresponds to £1288 in 2025 according to bank of England inflation calculator
• X-E5 with 23mm: £1,549
• X100VI: £1,599

"All numbers include UK VAT (sales tax) of 20%."

Comments

[John Camp]

I've been looking for a compact ILC. This camera looks like a solid candidate -- reviews say it's about the same size as the Fuji X-100VI but with interchangeable lenses, and I already have a whole batch of X-mount lenses from Fuji and Sigma. However, one of my lenses is a Fuji Super EBC XF 27mm 1:2.8 R WR lens called a "muffin" by some reviewers because it's not quite a pancake, but it's very small. (I just put a ruler on it and it's 1.5 inches including the lens cap.) So it sounds like it's very close to the 23, except it's a 40/41 focal length which, IMHO, is better than 35. In my experience, and the experience of a number of reviewers, it's a decent lens, but not great. Perhaps the 23 will be better. One reviewer points out that while the lens is advertised as "water resistant," the camera is not, so that's a consideration.

[Jayanand Govindaraj]

It is an ILC version of the Fuji X100 VI. IMHO, the absolutely perfect travel camera. The body, a couple of primes and a normal zoom will fit into a small bag like the Billingham Hadley Small, with space left over for travel documents. If we (my sons shoot Fuji X) did not already possess a Fuji X100 VI, this one would be insanely tempting, as we already possess the lenses!

[Stan B.]

Been waiting eons for an 18mm Fujifilm redo that's "incredibly light and small with uncompromised optical construction."

[Jozef]

Should I start photography, as a hobbyist, this camera + lens would be my choice. I bought the Olympus EP-1 + 20mm Lumix lens around 2010. The starting point is the same.

[Keith]

This may very well lure some micro 4/3 hold-outs that are waiting for a Pen II. It's certainly the most beautiful digital camera since the Pen I release. I'm already in micro 4/3 and Nikon FF, and surely don't need a third lens mount to vacuum up any discretionary funds. But this will likely be one of those cameras I admire, kind of like car guy A acknowledging that car brand B did a really nice job on a particular model.

[Hong Lee]

I've followed the early reviews on the X-E5. The most interesting thing I've seen is the new "Classic Viewfinder" mode. It's a throwback to film cameras like the Nikon FE2, right down to a faux needle meter! That is very cool and something I hope to see in the next X-Pro. You can see it in the DP Review preview below:

https://www.dpreview.com/reviews/fujifilm-x-e5

[Albert Smith]

I still use my X-E2s and X-E3 as my compact cameras, so I wasn't caring too much about the X-E5. But the thing that jumped out at me is the quoted price which is very high. With just a couple of hundred dollars more you can buy a Nikon Zf with a 40mm f/2 lens, and get a lot more camera IMO.

Additionally, Fujifilm has lost all credibility with their camera launches. They have a canned quote that goes up on their website repeatedly: "Did not anticipate the demand, expect long delays..." If I decided to buy that Nikon, I can actually receive it and not go on a wait list.

That 23mm f/2.8 might be tempting. The small 23mm f/2 Fujicron protrudes a bit much on my X-E bodies, so it would be nice to have a compact 35mm-E lens. This announcement is 6 months before the lens will be available as a stand alone item, so I hope Fujifilm spends that time producing a bunch of them, but history says they won't.

[ChrisC]

As a long term X-E3 user, this X-E5 looks like it would be a nice upgrade (the X-E4 never tempted me). Looking at the details and specifications, however, this doesn’t seem to sit in the traditional X-E position in the Fuji range (and I’m not just thinking about price). Feature wise I’d say it is more of an X-Pro lite or an X-E plus. My expectation for the X-E5 had been more along the lines of the X-M5 with viewfinder and maybe if we were lucky, the addition of IBIS. Perhaps there is still space in the lineup for such a model, but what would it be called?

[Keith S]

Yes, that lens is interesting. At that price, if its performance and build quality are at least on par with Fuji's current 23mm lens, I'd get it for the much smaller size.

The X-E5 however is yet another $1500+ camera with an EVF that belongs in a $900- camera. Fuji and Sony keep doing this like the EVF is an afterthought instead of one of the most crucial elements of a camera. Do they think most photographers compose with the LCD display?

[Adam Richardson]

According to DPReview, it's priced outside the US on par with the XT50, which the X-E5 largely is internally. It's only in the US that it's higher priced - I'm guessing Fuji has pre-priced it for tariffs so they don't have to raise the price a couple of months after launch.

Still, I've ordered one as a replacement for my old X-E3, which I'll sell and which will make the 5 more palatable :) It gives me the more premium feel of my old X100, but with the purely EVF viewfinder (rarely used the optical) and modern IBIS etc.

On a side note, I get tired of the "why couldn't they make the 23mm a f2 lens like on the X100?" comments. On that camera half the lens is inside the body (same on the GFX 100RF). The current 23mm f2 is probably as small as they feel they can go and have acceptable image quality for a 40mp sensor.

[Chris Kern]

My initial venture into the Fuji crop sensor ecosystem was an X-E2, which I acquired in 2014. The MSRP of the camera was just under (U.S.) $1K; I paid $1199 for it kitted with the 18-55mm f/2.8-4 zoom—an excellent entry-level lens for its time.

According to DPReview, X-E5s destined for the American market will be manufactured in Japan, which suggests that the effect on its retail price from the new U.S. tariffs actually is modest, and the camera’s technical characteristics are essentially identical to those of the X-T5. So the price-point seems appropriate.

As for the 23mm f/2.8 pancake lens and its 27mm elder sibling, my impression from what I have been reading is that the former should have better optical correction and faster autofocus than the latter. Assuming the 23mm’s resolution can keep up with the current 40 Mpx X-Trans sensor, it should provide more than enough opportunity for cropping to make up for the narrower angle-of-view of the earlier lens on the 16 Mpx sensors of its era while retaining the flexibility to shoot wider.

Arguably the X-E5 and 23mm pancake lens offer a low-cost alternative to the Leica Q3.

It seems to me that Fujifilm’s technical designs, esthetics, and understanding of the market are all quite sophisticated. The real issue is whether the company can deliver products when purchasers want them. Lately its record on that attribute has not been very good.

[Lukasz]

I am an X-E3 user and the X-E5 is an interesting upgrade to consider.

- 40Mpix over 16 (I think?) means much larger files taking space on my disk, while X-E3 quality is good enough. Meh.
- IBIS used to be a selling point years ago, but now my X-E3 is parked at ISO800 to take advantage of Fuji's expanded dynamic range, so slow speeds are not a problem I run against often. So also meh.
- USB C is something very welcome. X-E3's USB micro is ancient at this point and I would love to get rid of my micro cables.
- I really hoped the E5 would the 64:25 "X-PAN" aspect ratio available. As far as I can tell, there's no technical reason it wouldn't. I bet I would have some fun with it, so I'm a little sad there's no mention of it being added to the E5.
- tilty screen. Yay! Though one that flips all the way around so the camera can be tossed into a bag without additional protection is so practical.
- film simulation dial looks great though. Retrotastic easier access to settings I change often, what's not to like.