Compact cameras are very much back – and if you’re in the market for a retro-leaning model that has interchangeable lenses and won’t break the bank, Fujifilm‘s rumored X-M5 could soon be a tempting new option.

The first whispers about the surprise launch of an X-M5 – tipped to be a successor to the X-M1 from way back in June 2013 – appeared back in July. And now some new images shared by Fuji Rumors, plus a teaser from Fujifilm itself on Instagram, have given us a clearer idea of what to expect from the APS-C camera.

In short, the X-M5 looks like a cheaper, viewfinder-less alternative to the existing Fujifilm X-E4, which means it could also be an affordable option for those who don’t like the price or fixed lens of the popular Fujifilm X1000VI (which is still back-ordered).

The side-by-side image comparison from Fuji Rumors shows that the X-M5 will likely be similar in size to the original X-M1 (which measured 117 x 67 x 39 mm). For comparison, that would make it smaller in all directions than the X100VI (128 x 74.8 x 55.3 mm) and the travel-friendly Fujifilm X-T50 (123.8mm x 84mm x 48.8mm).

Fujifilm’s own teaser post ahead of its latest X Summit event, which kicks off on October 14, shows a mysterious camera slipping into the back pocket of some jeans. You’ll presumably need to pair the camera with a pancake lens like the XF18mm f/2 R to manage that, unless you’re a fan of clown trousers.

Meanwhile, an earlier leaked image on October 6, also from Fuji Rumors, showed that the rumored X-M5’s top plate could have a dedicated Film Simulation dial, like the X-T50. That feature divides opinion a little, with beginners appreciating the quick shortcuts to Fuji’s digital recreations of old film stock, and more advanced users seeing it as a waste of a dial.

Still, both camps would certainly appreciate some upgraded autofocus, which is apparently also en route for the X-M5, according to Fuji Rumors. Fujifilm has come under fire recently for its misfiring autofocus system, but the company has promised a range of firmware fixes for that – and we could get our first glimpse of what’s coming at the X Summit on October 14.

What else is en route?

Three Fujifilm X-M1 cameras on a white background

The Fujifilm X-M1 (above) landed way back in 2013, but circular camera trends appear to have laid a path for a belated successor. (Image credit: Fujifilm)

The return of the X-M series would be something of a surprise, but it also fits current camera trends. Both film cameras and small digital cameras have had a resurgence in the past few years, but casual shooters are also unlikely to shell out the $1,599 / £1,599 / AU$2,899 needed for an X100VI (if they can find one). So the rumored X-M5 could fill the gap.

Exactly how affordable the X-M5 will be remains to be seen. The original X-M1 cost $799 / £679 (around AU$1,320) with a kit lens at launch, but that was in 2013. Adjusted for inflation, it’d break the $1,000 dollar barrier, so the best hope is that the new version dips below that mark. The X-M5 has been tipped to land with Fujifilm’s XC15-45mm lens, so that would certainly help.

Yet it seems that Fujifilm could have something potentially even more intriguing for fans of film-style cameras in 2025. A new post from Fuji Rumors suggests the company is planning to launch a digital equivalent of the half-frame Pentax 17, which was the first new film camera we’d seen in many years when it emerged from its time machine in July.

The Pentax 17 shoots 35mm film, but squeezes twice the number of pictures from a typical roll thanks to that half-frame format (which means vertical shots measuring 17 x 24mm). Exactly why Fujifilm might make a digital equivalent isn’t clear, but it’s clearly cashing in on its heritage with its Film Simulation dials, retro styling, and new cameras like the rumored X-M5.

Expect to hear more about the latter, and perhaps some new XF lenses, at the X Summit on October 14.

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