Likely Fujifilm X-M5 budget compact camera launch announced for October X Summit

Fujifilm's upcoming X-M5 camera has been popping up in leaks all over the place, with an October launch more or less confirmed for a while now. Fujifilm, however, has all but confirmed that the new compact camera will launch this month, though, with the announcement of an X Summit on October 14 in Tokyo. 

The X Summit will apparently focus on design, which is why it will be hosted at the Clay design studio. Given what we know about the Fujifilm X-M5, the design theme more or less fits, and the new body should turn out to be the budget-friendly camera that fans were hoping for with the launch of the X-T50 (curr. $1,399.99 at Best Buy).

While early rumours and leaks claimed the X-M5 would be an affordable, stripped-back S-X20 (curr. $1,299.95 at Best Buy) with a more retro design, there were subsequent concerns that the X-M5's price would increase, thanks to technical complexity stemming from a fully-articulating "selfie" screen. Early rumours also claimed that the compact camera would launch with in-body image stabilisation, which would also drive up the price considerably. 

However, more recently, Fuji Rumors revealed that the X-M5 would not have IBIS at launch, which is probably disappointing news for some, but it could also mean a lower cost for both Fuji and the consumer. There is also no shortage of complaints about shaky IBIS performance from Fujifilm owners on sites like Reddit.