Olympus is an exacting technology forerunner, designing and bringing advanced resolutions to its essential business zones, mainly cameras and audio. Now the company's presented three new switchable lens versions into its PEN series. The top of the line, the E-P3, replaces the E-P2 in August. The other two are "concept" models, meaning they're early looks at products that will be launched later in the year. The new E-PL3 will be 25 percent smaller than its predecessor, with a tilting non-touch three-inch LCD screen. In spite of its updated auto-focus  system, the E-PL3 will have a marginally better response time but will be capable of 5 frames every second. It will be introduced in four different colors: black, white, chrome and red. Source: CNET