Olympus OM-D E-M5

Manufacturer: Olympus
Type: camera (Micro Four Thirds mirrorless)
Year introduced: 2012
Sensor: 16.1 MP Live MOS (Four Thirds format)
Price at launch: $999.99 (body only)

Overview

The Olympus OM-D E-M5 was a 16.1-megapixel Micro Four Thirds mirrorless camera announced on February 7, 2012, and the first model in Olympus’s new OM-D (OM Digital) series (^[1]). Drawing on the retro styling of Olympus’s legendary OM film SLR series introduced 40 years earlier, the E-M5 packed several world-first technologies into a compact, weather-sealed body. Alex Mustard described it as potentially “one of the most important underwater cameras released for several years” in his comprehensive field review for Wetpixel (^[2]).

The E-M5 was significant not just for existing Micro Four Thirds users but for the broader underwater photography community. Mustard evaluated it from the perspective of an SLR shooter, concluding that the camera brought “specifications that better most DX/APS-C SLRs” into a body “only slightly larger than some compacts” (^[3]). DPReview users voted the E-M5 the best camera of 2012, beating the Nikon D800/D800E by one percentage point (^[4]), and Backscatter named it the best advanced mirrorless camera for underwater use that year (^[5]).

Specifications

Key specifications from the launch announcement (^[6]):

• Sensor: 16.1 MP High-Speed Live MOS with TruePic VI image processing engine
• Image stabilization: World’s first 5-axis in-body image stabilization (horizontal shift, vertical shift, rotary motion, yaw, and pitch), effective for both stills and video
• Autofocus: FAST AF (Frequency Acceleration Sensor Technology) system, driving image data off the sensor at 240 fps — 2x speed increase in continuous AF, with 3D AF tracking across X, Y, and Z axes
• Continuous shooting: Up to 9 fps in single AF, 4.2 fps in C-AF tracking mode
• ISO: 100–25,600
• Viewfinder: Built-in electronic viewfinder with 120 fps refresh rate, HD resolution, 100% field of view, 1.15x magnification
• Display: Tilting 3.0-inch touchscreen OLED
• Body: Dustproof and splashproof magnesium alloy construction
• Video: Full HD 1080i, MOV format (MPEG-4 AVC/H.264), limited to 30 fps and 20 Mbit/s
• X-sync speed: 1/250 second (1/160 in RC mode)
• Availability: April 2012; $999.99 body only, $1,099.99 with 14-42mm lens, $1,299.99 with 12-50mm EZ lens

Underwater Significance

The E-M5 was particularly strong for underwater photography for several interrelated reasons identified in Mustard’s review (^[7]) and the detailed settings guide he co-authored with forum member Coroander (^[8]):

Low-light performance: The camera excelled in low light for three reasons: excellent ISO performance from the new sensor (with dynamic range exceeding APS-C DSLRs like the Canon 7D, as noted by community member Coroander), in-body image stabilization that worked with all lenses, and the inherent Micro Four Thirds advantage that lenses need less stopping down for equivalent depth of field. Mustard demonstrated sharp macro shots at 1/15th second at ISO 800.

5-axis stabilization: The in-body stabilization was revolutionary — it compensated for five directions of camera movement and worked with every lens mounted on the body. Rob Spray’s review noted the stabilization was “excellent, very effective for stills and uncannily good for video too,” smoothing jitters without fighting gentle panning (^[9]). A later demonstration by Micro 4/3rds Photography visually showed the sensor physically shifting to compensate for movement (^[10]).

Size advantage: The tiny camera body translated to compact housings, making the system attractive for traveling underwater photographers. Forum member nudibranco noted in 2019 that they had used the E-M5 with the Nauticam housing for seven years and were still happy with it (^[11]).

Customizability: The camera’s extensive menu system and programmable buttons were challenging to learn but powerful once configured for underwater use. The Coroander/Mustard settings guide covered custom button assignments, focus mode switching (including back-button AF via the record button, particularly ergonomic with the Nauticam housing’s thumb lever), EVF configuration, flash settings, and the Super Control Panel (^[12]).

Community adoption: The camera proved hugely popular, with over 20,000 views on the main Wetpixel forum discussion thread. Community members Phil Rudin, Jim Lyle, and Coroander were recognized for generously sharing their knowledge and underwater settings (^[13]). Mustard himself bought one after reviewing it.

Sensor and Image Quality

The E-M5’s sensor represented a significant leap for the Micro Four Thirds format. Mustard found the camera’s dynamic range, ISO performance, autofocus, and image stabilization all set new standards for the format (^[14]). Rob Spray noted that while rumors circulated about whether the sensor came from Panasonic or Sony, “the results are up there with some of the best,” making the camera “much less vulnerable to focus paralysis up the dark end of a modest lens than small sensor compacts (and a lot of SLRs)” (^[15]).

The same 16.1 MP sensor and TruePic VI engine were subsequently adopted by the Olympus PEN E-PL5 and E-PM2 cameras announced in September 2012 (^[16]), extending the E-M5’s image quality advantages to more affordable bodies.

DPReview awarded the E-M5 its Gold Award, and Nauticam’s press release noted that this recognition confirmed Olympus had taken the M4/3 format “to another level with performance solidly in DSLR territory” (^[17]).

Housing Availability

The E-M5 was supported by housings from multiple manufacturers, reflecting its popularity in the underwater photography market.

Olympus PT-EP08

Olympus announced the PT-EP08 housing just one day after the camera’s launch (^[18]). It featured a bayonet-mounted, replaceable lens port system — a departure from previous Olympus PEN housings — using an RDX-style two-lugged system with a large red locking ring. The standard port accepted the 14-42mm and 9-18mm lenses, with additional ports available for the 8mm fisheye and 50mm macro (^[19]).

Rob Spray reviewed the PT-EP08 extensively, characterizing it as an “enabling housing” rather than a “class leading offering.” He noted the controls were compact — “the feeling of compact controls on an SLR housing” — and lamented the lack of a proper optical eyepiece for the EVF, which limited divers to the rear screen (^[20]). Adam Hanlon commented at Photokina 2012 that the Nauticam housing was “the clear winner,” with the Olympus housing’s only advantage being its lower price (^[21], comments).

The housing featured dual fiber optic ports for strobe triggering, and the camera’s clip-on flash could fire in the down position once underwater modes were enabled — a useful space-saving feature (^[22]). One noted limitation was the X-sync speed dropping to 1/160 second when using RC mode with Olympus flash, suspected to be a firmware oversight (^[23]).

Nauticam NA-EM5

Nauticam announced the NA-EM5 on June 29, 2012, with an estimated shipping date of July 11 and a retail price of $1,350 (^[24]). Nauticam positioned itself as having “more experience creating underwater housings for compact mirrorless cameras than any other manufacturer in the world.”

The housing was machined from solid aircraft-grade aluminum with a 100-meter depth rating (185mm x 152mm x 105mm, 1.1 kg). Key features included:

• Rear-mounted O-ring seal for easier maintenance
• Threaded bulkhead port for HDMI or electrical strobe sync
• Patented two-stage lever shutter release
• Single rotating housing latch
• Dual fiber optic sync ports
• Optional rear acrylic display window for Nauticam’s 45-degree and 180-degree magnified viewfinders
• Patented port latching system with extensive port lineup
• Ergonomic lever for the record button, enabling convenient back-button focus — praised specifically by Mustard in his settings guide (^[25])

Port availability included the Panasonic 8mm fisheye, Panasonic 7-14mm, Olympus 9-18mm, Panasonic 14mm, Olympus 14-42mm, Panasonic 14-42mm, Panasonic 45mm macro, and a special port for the Olympus 12-50mm with power zoom and macro switch access (^[26]).

Some long-term users reported that the Nauticam Flexitray handles could break at the tray fitting under stress from dual strobe arms, with Nauticam providing free replacements. Later Nauticam housings addressed this with stainless steel extensions connecting handles to the housing body (^[27]).

Zen Underwater Ports

Zen Underwater announced support for the PT-EP08 housing in October 2012, offering two products (^[28]):

• DP-100-EP08 dome port ($799): A 100mm (4-inch) optical glass dome for the Panasonic 8mm fisheye lens, continuing Zen’s pioneering work with small, high-quality glass domes
• PA-EP08-EP adapter ($100): Allowed use of older PT-series Zen ports on the new EP08 housing, protecting existing investment for PEN upgraders

Lens Ecosystem

The Micro Four Thirds lens ecosystem was a major selling point for the E-M5 underwater. Key lenses recommended for underwater use (^[29], ^[30]):

• Panasonic Lumix G Fisheye 8mm f/3.5: 180-degree fisheye, razor sharp, focused close — described as offering “no better CFWA (close focus wide angle) option on the planet” when combined with a small port
• Olympus M.Zuiko 12-50mm f/3.5-6.3 EZ: Versatile zoom with a unique macro mode (1:2 at 43mm). The power zoom and barrel-activated macro switch were challenging to operate through a housing, but Nauticam developed a special port with access to both controls (^[31])
• Olympus M.Zuiko ED 60mm f/2.8 Macro: Arrived after launch and became the preferred macro lens. Forum consensus strongly recommended it over alternatives, with the 60mm fitting inside the 12-50mm port (^[32])
• Panasonic Leica DG Macro-Elmarit 45mm f/2.8: Good optically but noted for slower autofocus underwater (^[33])
• Panasonic Lumix G Vario 7-14mm f/4.0: Rectilinear wide-angle, ideal for subjects where fisheye distortion was unwanted
• Olympus M.Zuiko 9-18mm f/4.0-5.6: Budget rectilinear wide-angle alternative

Firmware Updates

Olympus released firmware v1.5 in October 2012, which included the changes from the suspended v1.2 update and added support for in-body stabilization during video recording with non-native lenses (requiring focal length specification). The update also reduced the humming noise from the stabilization system (^[34]).

Video Capabilities

The E-M5 recorded Full HD 1080i video in MOV format at 30 fps with 20 Mbit/s bitrate. Rob Spray noted this was “compression this heavy” and that 720p Motion JPEG was more resistant to compression artifacts. He criticized the lack of 24p or 25p frame rate options and the 20 Mbit/s ceiling, hoping the camera might attract firmware hacking similar to the Panasonic GH series (^[35]). The 5-axis stabilization was particularly beneficial for handheld video, producing smooth footage even in challenging conditions.

Reviews & Discussion

• ^[36] — Adam Hanlon’s announcement coverage with full press release, specifications, and pricing. Article (editorial).
• ^[37] — PT-EP08 housing announcement with new bayonet port system details. Article (editorial).
• ^[38] — Comprehensive multi-part field review shot in Malta, Gozo, and Comino, evaluating the camera as a potential SLR replacement. Covered housing, image quality, lens performance, autofocus, and stabilization. 20 reader comments with additional technical discussion. Article (editorial).
• ^[39] — Full Nauticam housing announcement with detailed specs, port lineup, and $1,350 pricing. Article (editorial).
• ^[40] — Rob Spray’s detailed review from a compact upgrader’s perspective, covering housing ergonomics, port system, AF performance, video capabilities, strobe control, and battery life. Article (editorial).
• ^[41] — Extensive underwater settings guide by Coroander and Alex Mustard, covering menu configuration, focus modes, back-button AF, custom button assignments, and EVF settings. 13 reader comments spanning 2012–2016. Article (editorial).
• ^[42] — The first-ever Wetpixel live video hangout featured discussion of the E-M5 alongside the Nikon D800 and Canon 5D Mark III. Moderated by Eric Cheng with Adam Hanlon, Alex Mustard, Berkley White of Backscatter, and Ryan Canon of Reef Photo & Video. Article (editorial).

Community Discussion

• OM-D E-M5 macro lens choices (16 replies) — Forum members overwhelmingly recommended the Olympus 60mm f/2.8 macro as the priority lens, noting it was “VERY nice” and fit in the 12-50mm port with no additional port needed. The Panasonic 45mm was noted for slower focus. (^[43])
• How to improve weak handles on Nauticam EM-5 I setup (8 replies) — Long-term user reported Flexitray handle breakage; community recommended third-party trays from Ultralight. One user noted being happy with the E-M5/Nauticam combination after seven years. (^[44])
• New Nauticam housing for the EM5 MkIII (23 replies) — Community debated whether Nauticam would make a Mark III housing, with several members arguing the E-M1 Mark II was the better underwater value. Users considering upgrade paths from the original E-M5 discussed wanting better low-light sensor performance. (^[45])

E-M5 Series Successors

OM-D E-M5 Mark II (2015)

Announced February 5, 2015 at $1,099.99 body only (^[46]). Key improvements over the original:

• Redesigned 16 MP sensor with TruePic VII processor
• 40 MP high-resolution shot mode (8 sequential images composited via sensor shift)
• Improved 5-axis IS with 5.0 EV steps of compensation (vs. unspecified for original)
• 81-point Fast AF, 10 fps with S-AF
• 1/8000 second mechanical shutter, plus silent electronic shutter to 1/16000
• Upgraded 2.36M-dot EVF (same as the flagship E-M1)
• Full HD 1080p at 60 fps with 77 Mbps bitrate — a major video upgrade
• Variable-angle LCD, integrated Wi-Fi
• Dedicated underwater housing: Olympus PT-EP13, priced at $999.99, rated to 45 meters

Housing availability for the Mark II was extensive:

• Nauticam NA-EM5II ($1,450): Shipped April 2015, evolutionary design with vacuum monitoring as standard, optional 45/180-degree viewfinders (^[47])
• Ikelite (April 2015): Polycarbonate housing with TTL system and Wi-Fi passthrough capability (^[48])
• Sea&Sea MDX-EM5 MK II (August 2015): Aluminum housing, 100m depth rating, ML/NX port compatibility, luminescent controls (^[49], ^[50])

Firmware v4.0 (February 2018) added the Focus Stacking function from the E-M1 Mark II and a Bleach Bypass Art Filter (^[51]).

OM-D E-M5 Mark III (2019)

Announced October 17, 2019 at $1,199.99 body only (^[52]). Major upgrades:

• 20 MP sensor (same as E-M1 Mark II) with TruePic VIII processor
• 121-point all cross-type on-chip phase detection AF — a transformative upgrade from contrast-detect-only in earlier models
• 5.5 EV steps IS compensation (6.5 with Sync IS), miniaturized stabilization unit
• 30 fps burst shooting, Pro Capture mode (14 retroactive frames)
• Cinema 4K video (C4K 24p), Full HD 60p
• Focus Bracketing (up to 999 shots), Focus Stacking, 50 MP Tripod High Res Shot
• Bluetooth + Wi-Fi, USB charging
• Smaller body using compact BLS-50 battery (~310 shots per charge)

However, the Wetpixel community questioned the Mark III’s value proposition for underwater use. Forum member Architeuthis argued the E-M1 Mark II had a lower street price with better C-AF performance, calling the E-M5 III “not a good choice for UW.” Multiple forum members agreed (^[53]). One issue noted was that the Mark III lacked a built-in flash, requiring the external FL-LM3 which was prone to becoming disconnected inside housings.

Housing availability for the Mark III:

• Ikelite 200DLM/A ($950): Shipped December 2019, 60m depth rating, Dry Lock Micro port system (^[54])
• AOI UH-EM5III: Polycarbonate housing with vacuum valve and USB-C charging, compatible with Olympus PT-EP08/11/14 port mount (^[55])
• Isotta (July 2021, EUR 1,300): Signature red aluminum housing, 100m depth rating, 102mm bayonet port, double O-ring seals on all controls (^[56])

Timeline

• 2012-02-07: Olympus announces the OM-D E-M5, first of the new OM-D series (^[57])
• 2012-02-08: Olympus announces the PT-EP08 housing with new bayonet port system (^[58])
• 2012-04: E-M5 ships in black and silver body options
• 2012-06-01: Alex Mustard publishes comprehensive field review on Wetpixel, shot in Malta, Gozo, and Comino (^[59])
• 2012-06-05: E-M5 discussed in Wetpixel’s first-ever live video hangout alongside Nikon D800 and Canon 5D Mark III (^[60])
• 2012-06-29: Nauticam announces NA-EM5 housing at $1,350, shipping July 11 (^[61])
• 2012-08-28: Rob Spray publishes review of PT-EP08 housing from a compact upgrader’s perspective (^[62])
• 2012-10-03: Firmware v1.5 released, adding IS for video with non-native lenses and reducing stabilization hum (^[63])
• 2012-10-13: Zen Underwater announces DP-100-EP08 dome and port adapter for PT-EP08 (^[64])
• 2012-10-23: Backscatter names E-M5 best advanced mirrorless camera for underwater photography 2012 (^[65])
• 2012-11-26: Coroander and Mustard publish detailed underwater settings guide on Wetpixel (^[66])
• 2013-01-02: DPReview users vote E-M5 best camera of 2012 (^[67])
• 2015-02-05: Olympus announces successor OM-D E-M5 Mark II with 40 MP high-res mode and upgraded EVF (^[68])
• 2015-04: Nauticam NA-EM5II ships at $1,450; Ikelite housing also available (^[69], ^[70])
• 2015-06–09: Sea&Sea announces and ships MDX-EM5 MK II housing (^[71], ^[72])
• 2018-02-28: Firmware v4.0 for Mark II adds Focus Stacking and Bleach Bypass Art Filter (^[73])
• 2019-10-17: Olympus announces OM-D E-M5 Mark III with 20 MP sensor and phase-detect AF (^[74])
• 2019-12-22: Ikelite ships housing for E-M5 Mark III at $950 (^[75])
• 2021-07-09: Isotta ships aluminum housing for E-M5 Mark III at EUR 1,300 (^[76])

References