This was a total surprise this morning to read. Canon has launched a brand new high-end video camera directly targeting the RED and Arri digital video cameras. Looks like a pretty incredible camera… it has a 35mm 4k sensor, can be had in either EF or PL mounts, a nice small body, a bunch of new cinema lens. The price tag looks to hover between $16,000 and $20,000 for the body, but that’s not too bad considering the Arri Alexa is around $60,000 and the RED Epic-X at around $30,000. Read more at Engadget.

Canon also announced a prototype of another cinema body they’re working on. It shoots 4k @ 24fps and has already been used to shoot an episode of House. It looks pretty neat too, kind of a 5D MKII video capability crossed with a RED camera and a pro 1D body. I’m guessing a sticker of around $9,000. Via Engadget.