It records to a single expressP2 card in AVC-ULTRA at resolutions up to 4K; it also supports HD recording in ProRes 4444 (up to 30p) and ProRes422 HQ (up to 60p). Panasonic has also enabled a new AVC-Intra LT codec for 240 fps capture in imager crop mode. Additionally, there is a plan to enable RAW output via SDI sometime in the future.
The VariCam LT comes with an EF mount, but can be switched out for a PL mount if desired, giving you a wide range of lens options. At just under six pounds, the VariCam LT is made for run-and-gun operation, and is perfectly at home on a Steadicam, jib, crane, or gimbal. Best of all, the camera has a tough magnesium alloy body, really made for production.
Other interesting features include a new V-Look mode -- something similar to the Wide DR modes that we've seen in other cameras -- full in-camera color grading similar to the VariCam 35, and an IR shooting mode for extreme low-light capture.
The new camera comes in at $18,000 for the body only, or $24,000 for the camera with an OLED EVF (the same great one from the 35). Look for the camera to hit the market sometime by the end of March.
Check out some VariCam LT sample footage from Panasonic's Cinema VariCam Vimeo channel: