Is it just me, or is this more or less guaranteed to roll off the table at some point?

I want to be excited about this, but I still can't think of many practical applications

Practical application can be using pancake and this on small gopro like gimbals.

This looks very nice and as action camera too ... Reuse of mft lenses ? Using this with Nebula 4000 , great "wireless" monitor, remote control etc ...

@DrDave: it will no fall off anything just as long as you treat it like you trewat your lenses. ;)

This is very interesting, especially the bit about an Open API, but it needs IBIS to really take off. Another interesting thing is that you can make it waterproof almost instantly with cling film if your lens is also weather proof.

I do this all the time with my smartphone when I go out jogging in bad weather, and it works great. (And you can still operate it).

Preview

http://dc.watch.impress.co.jp/docs/review/newproduct/20150216_688443.html

Japanese hands-on review of the (released in Japan yet?) A01:

Includes "Old lens and the OLYMPUS AIR A01"

http://dc.watch.impress.co.jp/docs/review/special/20150319_692265.html

http://dc.watch.impress.co.jp/docs/review/labo/20150402_695796.html

I would avoid using that over shoulder big lens position if I am near law enforcements or military installations. From 300 yards, it can easily be mistaken for a "bad" guy with a LAW or Carl Gustav 84mm

Now in US

Olympus America Inc. is pleased to announce availability of the Olympus Air A01 camera in Canada and the United States. Olympus Air A01 with Amazon Cloud Drive integration is a compact camera excluding an integrated display; images are instead composed using a smartphone or tablet, which communicates with the camera via Wi-Fi and OA.Central for Olympus Air, Air A01's dedicated app. The camera includes a 16-megapixel sensor and a Micro Four Thirds mount, delivering DSLR image quality and full compatibility with Olympus's comprehensive collection of Micro Four Thirds lenses, expanding the capabilities of your smartphone.

Olympus Air A01 relies on the cutting-edge imaging technology of Olympus's mirrorless cameras and world-renowned family of M.ZUIKO® digital lenses. By incorporating the same 16-megapixel sensor and TruePic VII image processor as the latest OM-D and PEN® cameras, users can expect excellent image quality, even in low light. Additionally, the integrated FAST AF system enables high-speed, high-precision focusing whenever a user taps the focus location on a connected smart device. The camera includes RAW capture, 1080p video recording, a 10-frames-per-second consecutive shooting mode (with focus and exposure fixed) and a silent electronic shutter with a 1/16,000-second maximum shutter speed, transforming smartphones with previously limited imaging capabilities into cameras that enthusiasts and semi-professionals alike can enjoy! The included battery can be charged using any USB power source, and is rated for 320 shots per charge.

With an ever-growing family of premium and professional lenses, users can choose from a variety of lens options that meet their individual shooting needs. From wide-angle landscape lenses for discreet street shooting to high-powered zoom lenses, nearly all styles of photography are supported by this innovative concept. Combining the flexibility of lens selection with the virtually limitless shooting style afforded by the free-form design, users will enjoy unique imaging angles and a newfound freedom in composition.

Olympus Air A01 has a newly developed and dedicated app, OA.Central for Olympus Air, which is available in the Apple App Store, Google Play and Amazon Appstore. Customers will be able to instantly transfer DSLR image quality photos to eMail, social networks, and automatically upload to securely store their photos in Amazon Cloud Drive. Olympus Air A01 is the first Olympus camera to include integration with Amazon Cloud Drive. By allowing for direct-to-cloud storage, users minimize the strain on the memory of their smart devices, immediately and securely store their photos, and have instant access to their images for upload across social media outlets.

Local storage is also available on Air A01 using a microSD memory card. Images and video files can be transferred instantly to a connected smartphone or tablet for easy sharing. Because Air A01 is an open platform, developers can create their own apps for the camera using the available software development kit.

The included Olympus Air A01 Coupling accessory enables users to securely attach the camera to a smartphone if desired. The angled mount allows you to see a live view through the lens from various positions for maximum flexibility. Additionally, as the camera and smartphone or tablet communicate wirelessly; the Air A01 can be operated while detached from a smart device, making it possible to capture selfies and other shots that are difficult to obtain using conventional cameras. You can also connect the Air A01 to a tripod for capturing steady shots at night.

I hope Panny is working on a 4K version with a long range down-link for the drone market. This thing won't have the range necessary to maintain a link for aerial use :(

Would it be possible to create an app for this camera similar to Filmic Pro for iPhones, in which case you could draw 2 and 3k images from the sensor?