As promised earlier this year, Ricoh has now unveiled the development and release of its third lens module for its GXR digital camera system. The P10 28-300 mm F3.5-5.6 VC wide angle 10.7x zoom lens module has been optimized for high quality output and benefits from revised image processing algorithms. It can continuously shoot at up to five frames per second in RAW format but up to 120 in VGA and can record movies in 720p high definition.

In the newly released specification detail, Ricoh has promised enhanced image quality and expanded dynamic range thanks to the high speed image processing capabilities of a ten megapixel P10's 1/2.3 inch back-illuminated CMOS sensor aided by Ricoh's Smooth Imaging Engine IV. More natural-looking image color is said to be achieved by using multi-pattern auto white balance and dynamic range double shot mode promises "an almost naked-eye impression" equivalent to up to 12EV.

Also featured is proprietary vibration correction, 720p high definition movie recording and up close and personal macro function that allows users to get as close as 0.39 inch from the subject in wide angle and 10.6 inches in telephoto. Varying levels of advanced noise reduction are performed on the signal immediately after it is output by the sensor making "it possible to reduce noise while maintaining resolution, tone characteristics, and saturation" of the 28mm wide angle to 300mm telephoto images taken with the module.

Continuous shooting of up to five frames of RAW still images per second are possible, but the M-continuous mode can take multiple consecutive JPEG shots (up to 26 in less than a second) before the finger is removed from the shutter release button. The resulting snaps are stored as one MP (or Multi-Picture) image file. If fairly low-res 640 x 480 image quality is chosen, continuous shooting can be rafted right up to 120 frames per second.

More details on the P10 module can be found on the product page, check back soon for pricing and availability.

UPDATE: Ricoh has just confirmed pricing as US$299 for the P10 lens module only and US$499 for the lens and GXR body, June 11th is the scheduled U.S. release date.