Nikon 1 V2 vs Panasonic LX5

The Nikon 1 V2 and the Panasonic Lumix DMC-LX5 are two digital cameras that were announced, respectively, in October 2012 and July 2010. The V2 is a mirrorless interchangeable lens camera, while the LX5 is a fixed lens compact. The cameras are based on an one-inch (V2) and a 1/1.7-inch (LX5) sensor. The Nikon has a resolution of 14.2 megapixels, whereas the Panasonic provides 10 MP.

Below is an overview of the main specs of the two cameras as a starting point for the comparison.

Headline Specifications

Nikon 1 V2		Panasonic LX5
Mirrorless system camera		Fixed lens compact camera
Nikon 1 mount lenses		24-90mm f/2.0-3.3
14.2 MP – 1" sensor		10 MP – 1/1.7" sensor
1080/60p Video		720/60p Video
ISO 160-12,800		ISO 80-3,200 (80 - 12,800)
Electronic viewfinder (1440k dots)		Viewfinder optional
3.0" LCD – 921k dots		3.0" LCD – 460k dots
Fixed screen (not touch-sensitive)		Fixed screen (not touch-sensitive)
15 shutter flaps per second		2.5 shutter flaps per second
310 shots per battery charge		400 shots per battery charge
109 x 82 x 46 mm, 278 g		110 x 65 x 43 mm, 271 g

Check V2 offers at
ebay.com
Check LX5 offers at
ebay.com

Going beyond this snapshot of core features and characteristics, what are the differences between the Nikon 1 V2 and the Panasonic Lumix DMC-LX5? Which one should you buy? Read on to find out how these two cameras compare with respect to their body size, their imaging sensors, their shooting features, their input-output connections, and their reception by expert reviewers.

Body comparison

The side-by-side display below illustrates the physical size and weight of the Nikon 1 V2 and the Panasonic LX5. The two cameras are presented according to their relative size. Three consecutive views from the front, the top, and the rear side are shown. All size dimensions are rounded to the nearest millimeter.

Both cameras are available in two different colors (black, white).

If the front view area (width x height) of the cameras is taken as an aggregate measure of their size, the Panasonic LX5 is notably smaller (20 percent) than the Nikon 1 V2. In this context, it is worth noting that neither the V2 nor the LX5 are weather-sealed.

The above size and weight comparisons are to some extent incomplete and possibly misleading, as the LX5 has a lens built in, whereas the V2 is an interchangeable lens camera that requires a separate lens. Attaching the latter will add extra weight and bulk to the setup.

The following table provides a synthesis of the main physical specifications of the two cameras and other similar ones. If you would like to visualize and compare a different camera combination, you can navigate to the CAM-parator app and make your selection from a broad list of cameras there.

Body Specifications

#		Camera Model	Camera Width	Camera Height	Camera Depth	Camera Weight	Battery Life	Weather Sealing	Camera Launch	Launch Price (USD)	Street Price
1.		Nikon 1 V2	109 mm	82 mm	46 mm	278 g	310	n	Oct 2012	799	ebay.com
2.		Panasonic LX5	110 mm	65 mm	43 mm	271 g	400	n	Jul 2010	499	ebay.com
3.		Canon G1 X	117 mm	81 mm	65 mm	534 g	250	n	Jan 2012	799	ebay.com
4.		Fujifilm X-M1	117 mm	67 mm	39 mm	330 g	350	n	Jun 2013	699	ebay.com
5.		Fujifilm X10	117 mm	70 mm	57 mm	350 g	270	n	Sep 2011	599	ebay.com
6.		Nikon 1 V3	111 mm	65 mm	33 mm	381 g	310	n	Mar 2014	799	ebay.com
7.		Nikon 1 J4	100 mm	60 mm	29 mm	232 g	300	n	Apr 2014	549	ebay.com
8.		Nikon 1 V1	113 mm	76 mm	44 mm	383 g	350	n	Sep 2011	799	ebay.com
9.		Olympus XZ-1	111 mm	65 mm	42 mm	275 g	320	n	Jan 2011	499	ebay.com
10.		Panasonic GF6	111 mm	65 mm	38 mm	323 g	340	n	Apr 2013	499	ebay.com
11.		Panasonic GF5	108 mm	67 mm	37 mm	267 g	360	n	Apr 2012	499	ebay.com
12.		Panasonic LX7	111 mm	68 mm	46 mm	298 g	330	n	Jul 2012	499	ebay.com
13.		Panasonic FZ150	124 mm	82 mm	92 mm	528 g	410	n	Aug 2011	499	ebay.com
14.		Panasonic GF3	108 mm	67 mm	32 mm	264 g	300	n	Jun 2011	549	ebay.com
15.		Panasonic GX1	116 mm	68 mm	39 mm	318 g	320	n	Nov 2011	699	ebay.com
16.		Ricoh GR	117 mm	61 mm	35 mm	245 g	290	n	Apr 2013	799	ebay.com
17.		Sony RX100 II	102 mm	58 mm	38 mm	281 g	350	n	Jun 2013	749	ebay.com
Note: Measurements and pricing do not include easily detachable parts, such as add-on or interchangeable lenses or optional viewfinders.
Convert to Imperial

The price is, of course, an important factor in any camera decision. The retail prices at the time of the camera’s release place the model in the market relative to other models in the producer’s line-up and the competition. The LX5 was launched at a lower price than the V2, despite having a lens built in. Normally, street prices remain initially close to the MSRP, but after a couple of months, the first discounts appear. Later in the product cycle and, in particular, when the replacement model is about to appear, further discounting and stock clearance sales often push the camera price considerably down. Then, after the new model is out, very good deals can frequently be found on the pre-owned market.

Sensor comparison

The size of the sensor inside a digital camera is one of the key determinants of image quality. All other things equal, a large sensor will have larger individual pixel-units that offer better low-light sensitivity, wider dynamic range, and richer color-depth than smaller pixels in a sensor of the same technological generation. Moreover, a large sensor camera will give the photographer more control over depth-of-field in the image and, thus, the ability to better isolate a subject from the background. On the downside, larger sensors tend to be associated with larger, more expensive camera bodies and lenses.

Of the two cameras under consideration, the Nikon 1 V2 features an one-inch sensor and the Panasonic LX5 a 1/1.7-inch sensor. The sensor area in the LX5 is 60 percent smaller. As a result of these sensor size differences, the cameras have a format factor of, respectively, 2.7 and 4.4. The sensor in the V2 has a native 3:2 aspect ratio, while the one in the LX5 offers a 4:3 aspect. The LX5 has the particularity of featuring a switch that allows to toggle between multiple aspect ratios, while maintaining the same field of view and full image resolution.

With 14.2MP, the V2 offers a higher resolution than the LX5 (10MP), but the V2 nevertheless has larger individual pixels (pixel pitch of 2.86μm versus 2.14μm for the LX5) due to its larger sensor. Moreover, the V2 is a much more recent model (by 2 years and 3 months) than the LX5, and its sensor will have benefitted from technological advances during this time that further enhance the light gathering capacity of its pixels.

The resolution advantage of the Nikon 1 V2 implies greater flexibility for cropping images or the possibility to print larger pictures. The maximum print size of the V2 for good quality output (200 dots per inch) amounts to 23 x 15.4 inches or 58.5 x 39 cm, for very good quality (250 dpi) 18.4 x 12.3 inches or 46.8 x 31.2 cm, and for excellent quality (300 dpi) 15.4 x 10.2 inches or 39 x 26 cm. The corresponding values for the Panasonic LX5 are 18.2 x 13.7 inches or 46.3 x 34.7 cm for good quality, 14.6 x 10.9 inches or 37.1 x 27.8 cm for very good quality, and 12.2 x 9.1 inches or 30.9 x 23.2 cm for excellent quality prints.

The V2 has on-sensor phase detect pixels, which results in fast and reliable autofocus acquisition even during live view operation.

The Nikon 1 V2 has a native sensitivity range from ISO 160 to ISO 12800. The corresponding ISO settings for the Panasonic Lumix DMC-LX5 are ISO 80 to ISO 3200, with the possibility to increase the ISO range to 80-12800.

In terms of underlying technology, the V2 is build around a CMOS sensor, while the LX5 uses a CCD imager. Both cameras use a Bayer filter for capturing RGB colors on a square grid of photosensors. This arrangement is found in most digital cameras.

Consistent information on actual sensor performance is available from DXO Mark for many cameras. This service is based on lab testing and assigns an overall score to each camera sensor, as well as ratings for dynamic range ("DXO Landscape"), color depth ("DXO Portrait"), and low-light sensitivity ("DXO Sports"). Of the two cameras under review, the V2 has a notably higher overall DXO score than the LX5 (overall score 9 points higher), which gives it an advantage in terms of imaging quality. This advantage is based on 0.6 bits higher color depth, and 1.6 stops in additional low light sensitivity. The following table provides an overview of the physical sensor characteristics, as well as the sensor quality measurements for a selection of comparators.

Sensor Characteristics

#		Camera Model	Sensor Class	Resolution (MP)	Horiz. Pixels	Vert. Pixels	Video Format	DXO Portrait	DXO Landscape	DXO Sports	DXO Overall
1.		Nikon 1 V2	1-inch	14.2	4608	3072	1080/60p	20.2	10.8	403	50
2.		Panasonic LX5	1/1.7	10.0	3648	2736	720/60p	19.6	10.8	132	41
3.		Canon G1 X	1.5-inch	14.2	4352	3264	1080/24p	21.7	10.8	644	60
4.		Fujifilm X-M1	APS-C	16.0	4896	3264	1080/30p	23.4	12.6	1371	76
5.		Fujifilm X10	2/3	12.0	4000	3000	1080/30p	20.5	11.3	245	50
6.		Nikon 1 V3	1-inch	18.2	5232	3488	1080/60p	20.8	10.7	384	52
7.		Nikon 1 J4	1-inch	18.2	5232	3488	1080/60p	20.8	10.7	426	53
8.		Nikon 1 V1	1-inch	10.0	3872	2592	1080/60i	21.3	11.0	346	54
9.		Olympus XZ-1	1/1.7	10.1	3664	2752	720/30p	18.8	10.4	117	34
10.		Panasonic GF6	Four Thirds	15.8	4592	3448	1080/60i	20.7	10.6	622	54
11.		Panasonic GF5	Four Thirds	12.0	4000	3000	1080/60i	20.5	10.0	573	50
12.		Panasonic LX7	1/1.7	10.0	3648	2736	1080/60p	20.7	11.7	147	50
13.		Panasonic FZ150	1/2.3	12.0	4000	3000	1080/60p	19.4	10.9	132	40
14.		Panasonic GF3	Four Thirds	12.0	4000	3000	1080/60i	20.6	10.1	459	50
15.		Panasonic GX1	Four Thirds	15.8	4592	3448	1080/60p	20.8	10.6	703	55
16.		Ricoh GR	APS-C	16.1	4928	3264	1080/30p	23.6	13.5	972	78
17.		Sony RX100 II	1-inch	20.0	5472	3648	1080/60p	22.5	12.4	483	67
Note: DXO values in italics represent estimates based on sensor size and age.

Many modern cameras are not only capable of taking still images, but also of capturing video footage. Both cameras under consideration have a sensor with sufficiently fast read-out times for moving pictures, but the V2 provides a higher video resolution than the LX5. It can shoot video footage at 1080/60p, while the Panasonic is limited to 720/60p.

Feature comparison

Apart from body and sensor, cameras can and do differ across a range of features. For example, the V2 has an electronic viewfinder (1440k dots), which can be very helpful when shooting in bright sunlight. In contrast, the LX5 relies on live view and the rear LCD for framing. That said, the LX5 can be equipped with an optional viewfinder – the DMW-LVF1. The adjacent table lists some of the other core features of the Nikon 1 V2 and Panasonic LX5 along with similar information for a selection of comparators.

Core Features

#		Camera Model	Viewfinder (Type or 000 dots)	Control Panel (yes/no)	LCD Specifications (inch/000 dots)	LCD Attach- ment	Touch Screen (yes/no)	Max Shutter Speed *	Max Shutter Flaps *	Built-in Flash (yes/no)	Built-in Image Stab
1.		Nikon 1 V2	1440	n	3.0 / 921	fixed	n	1/4000s	15.0/s	Y	n
2.		Panasonic LX5	optional	n	3.0 / 460	fixed	n	1/4000s	2.5/s	Y	Y
3.		Canon G1 X	optical	n	3.0 / 922	swivel	n	1/4000s	1.9/s	Y	Y
4.		Fujifilm X-M1	none	n	3.0 / 920	tilting	n	1/4000s	5.6/s	Y	n
5.		Fujifilm X10	optical	n	2.8 / 460	fixed	n	1/4000s	10.0/s	Y	Y
6.		Nikon 1 V3	optional	n	3.0 / 1037	tilting	Y	1/4000s	60.0/s	Y	n
7.		Nikon 1 J4	none	n	3.0 / 1037	Fixed	Y	1/4000s	60.0/s	Y	n
8.		Nikon 1 V1	1440	n	3.0 / 921	fixed	n	1/4000s	10.0/s	n	n
9.		Olympus XZ-1	optional	n	3.0 / 614	fixed	n	1/2000s	2.0/s	Y	Y
10.		Panasonic GF6	none	n	3.0 / 1040	tilting	Y	1/4000s	4.2/s	Y	n
11.		Panasonic GF5	none	n	3.0 / 920	fixed	Y	1/4000s	4.0/s	Y	n
12.		Panasonic LX7	optional	n	3.0 / 920	fixed	n	1/4000s	11.0/s	Y	Y
13.		Panasonic FZ150	202	n	3.0 / 460	swivel	n	1/2000s	12.0/s	Y	Y
14.		Panasonic GF3	none	n	3.0 / 460	fixed	Y	1/4000s	3.2/s	Y	n
15.		Panasonic GX1	optional	n	3.0 / 460	fixed	Y	1/4000s	4.2/s	Y	n
16.		Ricoh GR	optional	n	3.0 / 1230	fixed	n	1/4000s	4.0/s	Y	n
17.		Sony RX100 II	optional	n	3.0 / 1229	tilting	n	1/2000s	10.0/s	Y	Y
Note: *) Information refers to the mechanical shutter, unless the camera only has an electronic one.

The reported shutter speed information refers to the use of the mechanical shutter. Yet, some cameras only have an electronic shutter, while others have an electronic shutter in addition to a mechanical one. In fact, the V2 is one of those camera that have an additional electronic shutter, which makes completely silent shooting possible. However, this mode is less suitable for photographing moving objects (risk of rolling shutter) or shooting under artificial light sources (risk of flickering).

The Nikon 1 V2 has an intervalometer built-in. This enables the photographer to capture time lapse sequences, such as flower blooming, a sunset or moon rise, without purchasing an external camera trigger and related software.

Concerning the storage of imaging data, both the V2 and the LX5 write their files to SDXC cards. The V2 supports UHS-I cards (Ultra High Speed data transfer of up to 104 MB/s), while the LX5 cannot take advantage of Ultra High Speed SD cards.

Connectivity comparison

For some imaging applications, the extent to which a camera can communicate with its environment can be an important aspect in the camera decision process. The table below provides an overview of the connectivity of the Nikon 1 V2 and Panasonic Lumix DMC-LX5 and, in particular, the interfaces the cameras (and selected comparators) provide for accessory control and data transfer.

Input-Output Connections

#		Camera Model	Hotshoe Port	Internal Mic / Speaker	Microphone Port	Headphone Port	HDMI Port	USB Port	WiFi Support	NFC Support	Bluetooth Support
1.		Nikon 1 V2	-	stereo / mono	-	-	mini	2.0	-	-	-
2.		Panasonic LX5	Y	mono / mono	-	-	mini	2.0	-	-	-
3.		Canon G1 X	Y	stereo / mono	-	-	mini	2.0	-	-	-
4.		Fujifilm X-M1	Y	stereo / mono	-	-	mini	2.0	Y	-	-
5.		Fujifilm X10	Y	stereo / mono	-	-	mini	2.0	-	-	-
6.		Nikon 1 V3	-	stereo / mono	Y	-	mini	2.0	Y	-	-
7.		Nikon 1 J4	-	stereo / mono	-	-	mini	2.0	Y	-	-
8.		Nikon 1 V1	-	stereo / mono	-	-	mini	2.0	-	-	-
9.		Olympus XZ-1	Y	mono / -	-	-	mini	2.0	-	-	-
10.		Panasonic GF6	-	stereo / mono	-	-	mini	2.0	Y	Y	-
11.		Panasonic GF5	-	stereo / mono	-	-	mini	2.0	-	-	-
12.		Panasonic LX7	Y	stereo / mono	-	-	mini	2.0	-	-	-
13.		Panasonic FZ150	Y	stereo / -	-	-	mini	2.0	-	-	-
14.		Panasonic GF3	-	stereo / mono	-	-	mini	2.0	-	-	-
15.		Panasonic GX1	Y	stereo / mono	-	-	mini	2.0	-	-	-
16.		Ricoh GR	Y	mono / mono	-	-	micro	2.0	-	-	-
17.		Sony RX100 II	Y	stereo / mono	-	-	micro	2.0	Y	Y	-

It is notable that the LX5 has a hotshoe, which makes it possible to easily attach optional accessories, such as an external flash gun. The V2 does not feature such an accessory-socket.

Both the V2 and the LX5 have been discontinued, but can regularly be found used on ebay. The LX5 was replaced by the Panasonic LX7, while the V2 was followed by the Nikon 1 V3. Further information on the features and operation of the V2 and LX5 can be found, respectively, in the Nikon 1 V2 Manual (free pdf) or the online Panasonic LX5 Manual.

Review summary

So what is the bottom line? Which of the two cameras – the Nikon 1 V2 or the Panasonic LX5 – has the upper hand? Is one clearly better than the other? Below is a summary of the relative strengths of each of the two contestants.

Arguments in favor of the Nikon 1 V2:

• More detail: Offers more megapixels (14.2 vs 10MP) with a 21% higher linear resolution.
• Better image quality: Scores markedly higher (9 points) in the DXO overall assessment.
• Better low-light sensitivity: Requires less light for good images (1.6 stops ISO advantage).
• Better video: Provides higher definition movie capture (1080/60p vs 720/60p).
• Better live-view autofocus: Features on-sensor phase-detection for more confident autofocus.
• Easier framing: Has an electronic viewfinder for image composition and settings control.
• More detailed LCD: Has a higher resolution rear screen (921k vs 460k dots).
• Faster burst: Shoots at higher frequency (15 vs 2.5 flaps/sec) to capture the decisive moment.
• Less disturbing: Has an electronic shutter option for completely silent shooting.
• Easier time-lapse photography: Has an intervalometer built-in for low frequency shooting.
• More flexible: Accepts interchangeable lenses, so that lens characteristics can be altered.
• Faster buffer clearing: Has an SD card interface that supports the UHS-I standard.
• More modern: Reflects 2 years and 3 months of technical progress since the LX5 launch.

Advantages of the Panasonic Lumix DMC-LX5:

• Flexible image proportions: Has a multi-aspect sensor that allows for alternative image shapes.
• Ready to shoot: Has an integrated lens, whereas the V2 necessitates an extra lens.
• More compact: Is smaller (110x65mm vs 109x82mm) and will fit more readily into a bag.
• Less heavy: Has a lower weight even though it has a lens built in (unlike the V2).
• Longer lasting: Gets more shots (400 versus 310) out of a single battery charge.
• Sharper images: Has stabilization technology built-in to reduce the impact of hand-shake.
• Better lighting: Features a hotshoe and can thus hold and trigger an external flash gun.
• More affordable: Was introduced at a lower price, despite coming with a built-in lens.
• More heavily discounted: Has been around for much longer (launched in July 2010).

If the number of relative strengths (bullet points above) is taken as a guide, the V2 is the clear winner of the match-up (13 : 9 points). However, the pertinence of the various camera strengths will differ across photographers, so that you might want to weigh individual camera traits according to their importance for your own imaging needs before making a camera decision. A professional wildlife photographer will view the differences between cameras in a way that diverges from the perspective of a family photog, and a person interested in architecture has distinct needs from a sports shooter. Hence, the decision which camera is best and worth buying is often a very personal one.

How about other alternatives? Do the specifications of the Nikon 1 V2 and the Panasonic LX5 place the cameras among the top in their class? Find out in the latest Best Mirrorless Interchangeable Lens Camera and Best Travel-Zoom Camera listings whether the two cameras rank among the cream of the crop.

In any case, while the comparison of technical specifications can provide a useful overview of the capabilities of different cameras, it says little about, for example, the shooting experience and imaging performance of the V2 and the LX5 in practical situations. User reviews that are available, for instance, at amazon can sometimes shed light on these issues, but such feedback is all too often partial, inconsistent, and inaccurate.

Expert reviews

This is where reviews by experts come in. The following table reports the overall ratings of the cameras as published by some of the major camera review sites (amateurphotographer [AP], cameralabs [CL], digitalcameraworld [DCW], dpreview [DPR], ephotozine [EPZ], photographyblog [PB]). As can be seen, the professional reviewers agree in many cases on the quality of different cameras, but sometimes their assessments diverge, reinforcing the earlier point that a camera decision is often a very personal choice.

Expert Camera Reviews

#		Camera   Model	AP   score	CL   score	DCW   score	DPR   score	EPZ   score	PB   score	Camera Launch	Launch Price (USD)	Street Price
1.		Nikon 1 V2	3/5	..	..	..	4.5/5	4/5	Oct 2012	799	ebay.com
2.		Panasonic LX5	4/5	+	..	73/100	4.5/5	4.5/5	Jul 2010	499	ebay.com
3.		Canon G1 X	5/5	+	..	76/100	4/5	4.5/5	Jan 2012	799	ebay.com
4.		Fujifilm X-M1	3/5	+	..	77/100	4.5/5	4.5/5	Jun 2013	699	ebay.com
5.		Fujifilm X10	..	..	..	76/100	4/5	4.5/5	Sep 2011	599	ebay.com
6.		Nikon 1 V3	3/5	..	..	76/100	4.5/5	4/5	Mar 2014	799	ebay.com
7.		Nikon 1 J4	3/5	..	..	..	4.5/5	4/5	Apr 2014	549	ebay.com
8.		Nikon 1 V1	..	+	..	69/100	4.5/5	4/5	Sep 2011	799	ebay.com
9.		Olympus XZ-1	4/5	..	..	74/100	4.5/5	4.5/5	Jan 2011	499	ebay.com
10.		Panasonic GF6	..	+ +	..	..	4.5/5	4.5/5	Apr 2013	499	ebay.com
11.		Panasonic GF5	3/5	..	..	..	4.5/5	4.5/5	Apr 2012	499	ebay.com
12.		Panasonic LX7	3/5	+ +	..	75/100	4/5	4.5/5	Jul 2012	499	ebay.com
13.		Panasonic FZ150	3/5	+ +	..	76/100	4/5	4.5/5	Aug 2011	499	ebay.com
14.		Panasonic GF3	3/5	82/100	..	71/100	4.5/5	4/5	Jun 2011	549	ebay.com
15.		Panasonic GX1	3/5	+	..	77/100	4.5/5	4.5/5	Nov 2011	699	ebay.com
16.		Ricoh GR	5/5	..	..	79/100	4.5/5	4.5/5	Apr 2013	799	ebay.com
17.		Sony RX100 II	5/5	+ +	..	79/100	4.5/5	4.5/5	Jun 2013	749	ebay.com
Note: (+ +) highly recommended; (+) recommended; (o) reviewed; (..) not available.

The above review scores should be interpreted with care, though. The assessments were made in relation to similar cameras of the same technological generation. Thus, a score needs to be put into the context of the launch date and the launch price of the camera, and comparisons of ratings among very different cameras or across long time periods have little meaning. Also, please note that some of the review sites have changed their methodology and reporting over time.

Check V2 offers at
ebay.com
Check LX5 offers at
ebay.com

Other camera comparisons

Did this review help to inform your camera decision process? In case you would like to check on the differences and similarities of other camera models, just make your choice using the following search menu. There is also a set of direct links to comparison reviews that other users of the CAM-parator app explored.

~

Check V2 offers at
ebay.com
Check LX5 offers at
ebay.com

Did you notice an error on this page? If so, please get in touch, so that we can correct the information.