Olympus E-M5 vs Panasonic FZ200

The Olympus OM-D E-M5 and the Panasonic Lumix DMC-FZ200 are two digital cameras that were announced, respectively, in February 2012 and July 2012. The E-M5 is a mirrorless interchangeable lens camera, while the FZ200 is a fixed lens compact. The cameras are based on a Four Thirds (E-M5) and a 1/2.3-inch (FZ200) sensor. The Olympus has a resolution of 15.9 megapixels, whereas the Panasonic provides 12 MP.

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

Headline Specifications

Olympus E-M5		Panasonic FZ200
Mirrorless system camera		Fixed lens compact camera
Micro Four Thirds lenses		25-600mm f/2.8
15.9 MP – Four Thirds sensor		12 MP – 1/2.3" sensor
1080/60i Video		1080/60p Video
ISO 200-25,600		ISO 100-3,200 (100 - 6,400)
Electronic viewfinder (1440k dots)		Electronic viewfinder (1312k dots)
3.0" LCD – 610k dots		3.0" LCD – 460k dots
Tilting touchscreen		Swivel screen (not touch-sensitive)
9 shutter flaps per second		12 shutter flaps per second
In-body stabilization		Lens-based stabilization
Weathersealed body		not weather sealed
360 shots per battery charge		540 shots per battery charge
122 x 89 x 43 mm, 425 g		125 x 87 x 110 mm, 588 g

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Going beyond this snapshot of core features and characteristics, what are the differences between the Olympus OM-D E-M5 and the Panasonic Lumix DMC-FZ200? 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 physical size and weight of the Olympus E-M5 and the Panasonic FZ200 are illustrated in the side-by-side display below. 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.

The E-M5 can be obtained in two different colors (black, silver), while the FZ200 is only available in black.

If the front view area (width x height) of the cameras is taken as an aggregate measure of their size, the Olympus E-M5 and the Panasonic FZ200 are of equal size. It is worth mentioning in this context that the E-M5 is splash and dust resistant, while the FZ200 does not feature any corresponding weather-sealing.

The above size and weight comparisons are to some extent incomplete and possibly misleading, as the FZ200 has a lens built in, whereas the E-M5 is an interchangeable lens camera that requires a separate lens. Attaching the latter will add extra weight and bulk to the setup. You can compare the optics available for the E-M5 and their specifications in the Micro Four Thirds Lens Catalog.

Concerning battery life, the E-M5 gets 360 shots out of its Olympus BLN-1 battery, while the FZ200 can take 540 images on a single charge of its Panasonic DMW-BLC12 power pack.

The adjacent table lists the principal physical characteristics of the two cameras alongside a wider set of alternatives. In case you want to display and compare another camera duo, you can use the CAM-parator app to select your camera combination among a large number of options.

Body Specifications

		Camera Model	Camera Width	Camera Height	Camera Depth	Camera Weight	Battery Life	Weather Sealing	Camera Launch	Launch Price	Street Price
1.		Olympus E-M5	122 mm	89 mm	43 mm	425 g	360	Y	Feb 2012	US$ 1 299	ebay.com
2.		Panasonic FZ200	125 mm	87 mm	110 mm	588 g	540	n	Jul 2012	US$ 599	ebay.com
3.		Canon SX50	123 mm	87 mm	106 mm	595 g	315	n	Sep 2012	US$ 429	ebay.com
4.		Canon SX60	128 mm	93 mm	114 mm	650 g	340	n	Sep 2014	US$ 549	ebay.com
5.		Olympus E-M1	130 mm	94 mm	63 mm	497 g	350	Y	Sep 2013	US$ 1 399	ebay.com
6.		Olympus E-M5 II	124 mm	85 mm	45 mm	469 g	310	Y	Feb 2015	US$ 1 099	ebay.com
7.		Olympus E-P5	122 mm	69 mm	37 mm	420 g	330	n	May 2013	US$ 999	ebay.com
8.		Olympus E-PL5	111 mm	64 mm	38 mm	325 g	360	n	Sep 2012	US$ 599	ebay.com
9.		Olympus E-PL7	115 mm	67 mm	38 mm	357 g	350	n	Aug 2014	US$ 599	ebay.com
10.		Olympus E-PM2	110 mm	64 mm	34 mm	269 g	360	n	Sep 2012	US$ 499	ebay.com
11.		Olympus PEN-F	125 mm	72 mm	37 mm	427 g	330	n	Jan 2016	US$ 1 199	ebay.com
12.		Panasonic FZ100	124 mm	82 mm	92 mm	540 g	410	n	Jul 2010	US$ 499	ebay.com
13.		Panasonic FZ150	124 mm	82 mm	92 mm	528 g	410	n	Aug 2011	US$ 499	ebay.com
14.		Panasonic FZ300	132 mm	92 mm	117 mm	691 g	380	Y	Jul 2015	US$ 599	amazon.com
15.		Panasonic GH3	133 mm	93 mm	82 mm	550 g	540	Y	Sep 2012	US$ 1 299	ebay.com
16.		Panasonic GX7	123 mm	71 mm	55 mm	402 g	350	n	Aug 2013	US$ 999	ebay.com
17.		Panasonic GX8	133 mm	78 mm	63 mm	487 g	330	Y	Jul 2015	US$ 1 199	ebay.com
Note: Measurements and pricing do not include easily detachable parts, such as add-on or interchangeable lenses or optional viewfinders.
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Any camera decision will naturally be influenced heavily by the price. 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 FZ200 was launched at a lower price than the E-M5, despite having a lens built in. Usually, retail prices stay at first close to the launch price, but after several months, discounts become available. 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.

Sensor comparison

The imaging sensor is at the core of digital cameras and its size is one of the main determining factors of image quality. A large sensor will generally have larger individual pixels that offer better low-light sensitivity, provide wider dynamic range, and have 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 more expensive and lead to bigger and heavier cameras and lenses.

Of the two cameras under consideration, the Olympus E-M5 features a Four Thirds sensor and the Panasonic FZ200 a 1/2.3-inch sensor. The sensor area in the FZ200 is 88 percent smaller. As a result of these sensor size differences, the cameras have a format factor of, respectively, 2.0 and 5.6. Both cameras feature a native aspect ratio (sensor width to sensor height) of 4:3.

With 15.9MP, the E-M5 offers a higher resolution than the FZ200 (12MP), but the E-M5 nevertheless has larger individual pixels (pixel pitch of 3.76μm versus 1.53μm for the FZ200) due to its larger sensor. However, the FZ200 is a somewhat more recent model (by 5 months) than the E-M5, and its sensor might have benefitted from technological advances during this time that enhance the light gathering capacity of its pixels. Coming back to sensor resolution, it should be mentioned that the FZ200 has no anti-alias filter installed, so that it can capture all the detail its sensor resolves.

The resolution advantage of the Olympus E-M5 implies greater flexibility for cropping images or the possibility to print larger pictures. The maximum print size of the E-M5 for good quality output (200 dots per inch) amounts to 23 x 17.3 inches or 58.5 x 43.9 cm, for very good quality (250 dpi) 18.4 x 13.8 inches or 46.8 x 35.1 cm, and for excellent quality (300 dpi) 15.4 x 11.5 inches or 39 x 29.3 cm. The corresponding values for the Panasonic FZ200 are 20 x 15 inches or 50.8 x 38.1 cm for good quality, 16 x 12 inches or 40.6 x 30.5 cm for very good quality, and 13.3 x 10 inches or 33.9 x 25.4 cm for excellent quality prints.

The Olympus OM-D E-M5 has a native sensitivity range from ISO 200 to ISO 25600. The corresponding ISO settings for the Panasonic Lumix DMC-FZ200 are ISO 100 to ISO 3200, with the possibility to increase the ISO range to 100-6400.

In terms of underlying technology, the E-M5 is build around a CMOS sensor, while the FZ200 uses a BSI-CMOS 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 assesses and scores the color depth ("DXO Portrait"), dynamic range ("DXO Landscape"), and low-light sensitivity ("DXO Sports") of camera sensors, and also publishes an overall camera score. Of the two cameras under review, the E-M5 provides substantially higher image quality than the FZ200, with an overall score that is 34 points higher. This advantage is based on 3.7 bits higher color depth, 1.5 EV in additional dynamic range, and 2.9 stops in additional low light sensitivity. The table below summarizes the physical sensor characteristics and sensor quality findings and compares them across a set of similar cameras.

Sensor Characteristics

		Camera Model	Sensor Class	Resolution (MP)	Horiz. Pixels	Vert. Pixels	Video Format	DXO Portrait	DXO Landscape	DXO Sports	DXO Overall
1.		Olympus E-M5	Four Thirds	15.9	4608	3456	1080/60i	22.8	12.3	826	71
2.		Panasonic FZ200	1/2.3	12.0	4000	3000	1080/60p	19.1	10.8	114	37
3.		Canon SX50	1/2.3	12.0	4000	3000	1080/24p	20.3	11.2	179	47
4.		Canon SX60	1/2.3	14.2	4608	3072	1080/60p	19.2	10.8	127	39
5.		Olympus E-M1	Four Thirds	15.9	4608	3456	1080/30p	23.0	12.7	757	73
6.		Olympus E-M5 II	Four Thirds	15.9	4608	3456	1080/60p	23.0	12.5	842	73
7.		Olympus E-P5	Four Thirds	15.9	4608	3456	1080/30p	22.8	12.4	895	72
8.		Olympus E-PL5	Four Thirds	15.9	4608	3456	1080/30p	22.8	12.3	889	72
9.		Olympus E-PL7	Four Thirds	15.9	4608	3456	1080/30p	22.7	12.4	873	72
10.		Olympus E-PM2	Four Thirds	15.9	4608	3456	1080/30p	22.7	12.2	932	72
11.		Olympus PEN-F	Four Thirds	20.2	5184	3888	1080/60p	23.1	12.4	894	74
12.		Panasonic FZ100	1/2.3	14.0	4320	3240	1080/60i	19.4	10.7	306	39
13.		Panasonic FZ150	1/2.3	12.0	4000	3000	1080/60p	19.4	10.9	132	40
14.		Panasonic FZ300	1/2.3	12.0	4000	3000	4K/30p	19.3	11.0	97	38
15.		Panasonic GH3	Four Thirds	15.9	4608	3456	1080/60p	22.7	12.4	812	71
16.		Panasonic GX7	Four Thirds	15.8	4592	3448	1080/60p	22.6	12.2	718	70
17.		Panasonic GX8	Four Thirds	20.2	5184	3888	4K/30p	23.5	12.6	806	75
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 FZ200 provides a faster frame rate than the E-M5. It can shoot movie footage at 1080/60p, while the Olympus is limited to 1080/60i.

Feature comparison

Apart from body and sensor, cameras can and do differ across a variety of features. The two cameras under consideration are similar with respect to both having an electronic viewfinder. However, the one in the E-M5 offers a slightly higher resolution than the one in the FZ200 (1440k vs 1312k dots). The table below summarizes some of the other core capabilities of the Olympus E-M5 and Panasonic FZ200 in connection with corresponding information for a sample of similar cameras.

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.		Olympus E-M5	1440	n	3.0 / 610	tilting	Y	1/4000s	9.0/s	n	Y
2.		Panasonic FZ200	1312	n	3.0 / 460	swivel	n	1/4000s	12.0/s	Y	Y
3.		Canon SX50	202	n	3.0 / 461	swivel	n	1/2000s	2.2/s	Y	Y
4.		Canon SX60	922	n	3.0 / 922	swivel	n	1/2000s	6.4/s	Y	Y
5.		Olympus E-M1	2360	n	3.0 / 1037	tilting	Y	1/8000s	10.0/s	n	Y
6.		Olympus E-M5 II	2360	n	3.0 / 1037	swivel	Y	1/8000s	10.0/s	n	Y
7.		Olympus E-P5	optional	n	3.0 / 1037	tilting	Y	1/8000s	9.0/s	Y	Y
8.		Olympus E-PL5	optional	n	3.0 / 460	tilting	Y	1/4000s	8.0/s	n	Y
9.		Olympus E-PL7	optional	n	3.0 / 1037	tilting	Y	1/4000s	8.0/s	n	Y
10.		Olympus E-PM2	optional	n	3.0 / 460	fixed	Y	1/4000s	8.0/s	n	Y
11.		Olympus PEN-F	2360	n	3.0 / 1037	swivel	Y	1/8000s	10.0/s	n	Y
12.		Panasonic FZ100	202	n	3.0 / 460	swivel	n	1/2000s	11.0/s	Y	Y
13.		Panasonic FZ150	202	n	3.0 / 460	swivel	n	1/2000s	12.0/s	Y	Y
14.		Panasonic FZ300	1440	n	3.0 / 1040	swivel	Y	1/4000s	12.0/s	Y	Y
15.		Panasonic GH3	1746	n	3.0 / 614	swivel	Y	1/4000s	6.0/s	Y	n
16.		Panasonic GX7	2760	n	3.0 / 1040	tilting	Y	1/8000s	5.0/s	Y	Y
17.		Panasonic GX8	2360	n	3.0 / 1040	swivel	Y	1/8000s	10.0/s	n	Y
Note: *) Information refers to the mechanical shutter, unless the camera only has an electronic one.

One differentiating feature between the two cameras concerns the touch sensitivity of the rear screen. The E-M5 has a touchscreen, while the FZ200 has a conventional panel. Touch control can be particularly helpful, for example, for setting the focus point.

Concerning the storage of imaging data, both the E-M5 and the FZ200 write their files to SDXC cards. Both cameras can use UHS-I cards, which provide for Ultra High Speed data transfer of up to 104 MB/s.

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 Olympus OM-D E-M5 and Panasonic Lumix DMC-FZ200 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.		Olympus E-M5	Y	stereo / mono	-	-	mini	2.0	-	-	-
2.		Panasonic FZ200	Y	stereo / mono	Y	-	mini	2.0	-	-	-
3.		Canon SX50	Y	stereo / mono	-	-	mini	2.0	-	-	-
4.		Canon SX60	Y	stereo / mono	Y	-	mini	2.0	Y	Y	-
5.		Olympus E-M1	Y	stereo / mono	Y	-	micro	2.0	Y	-	-
6.		Olympus E-M5 II	Y	stereo / mono	Y	-	micro	2.0	Y	-	-
7.		Olympus E-P5	Y	stereo / mono	-	-	micro	2.0	Y	-	-
8.		Olympus E-PL5	Y	stereo / mono	-	-	mini	2.0	-	-	-
9.		Olympus E-PL7	Y	stereo / mono	-	-	micro	2.0	Y	-	-
10.		Olympus E-PM2	Y	stereo / mono	-	-	mini	2.0	-	-	-
11.		Olympus PEN-F	Y	stereo / mono	-	-	micro	2.0	Y	-	-
12.		Panasonic FZ100	Y	stereo / mono	-	-	mini	2.0	-	-	-
13.		Panasonic FZ150	Y	stereo / -	-	-	mini	2.0	-	-	-
14.		Panasonic FZ300	Y	stereo / mono	Y	-	mini	2.0	Y	-	-
15.		Panasonic GH3	Y	stereo / mono	Y	Y	mini	2.0	Y	-	-
16.		Panasonic GX7	Y	stereo / mono	-	-	mini	2.0	Y	Y	-
17.		Panasonic GX8	Y	stereo / mono	Y	-	micro	2.0	Y	Y	-

It is notable that the FZ200 has a microphone port, which can help to improve the quality of audio recordings by attaching an external microphone. The E-M5 does not feature such a mic input.

Both the E-M5 and the FZ200 have been discontinued, but can regularly be found used on ebay. The E-M5 was replaced by the Olympus E-M5 II, while the FZ200 was followed by the Panasonic FZ300. Further information on the features and operation of the E-M5 and FZ200 can be found, respectively, in the Olympus E-M5 Manual (free pdf) or the online Panasonic FZ200 Manual.

Review summary

So what is the bottom line? Which of the two cameras – the Olympus E-M5 or the Panasonic FZ200 – 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.

Advantages of the Olympus OM-D E-M5:

• More detail: Offers more megapixels (15.9 vs 12MP) with a 15% higher linear resolution.
• Better moiré control: Has an anti-alias filter to avoid artificial patterns to appear in images.
• Better image quality: Scores substantially higher (34 points) in the DXO overall assessment.
• Richer colors: Generates images with noticeably better colors (3.7 bits more color depth).
• More dynamic range: Captures a larger spectrum of light and dark details (1.5 EV of extra DR).
• Better low-light sensitivity: Requires less light for good images (2.9 stops ISO advantage).
• Larger viewfinder image: Features a viewfinder with a higher magnification (0.58x vs 0.46x).
• More detailed LCD: Has a higher resolution rear screen (610k vs 460k dots).
• Fewer buttons to press: Is equipped with a touch-sensitive rear screen to facilitate handling.
• More flexible: Accepts interchangeable lenses, so that lens characteristics can be altered.
• Better sealing: Is weather sealed to enable shooting in dusty or wet environments.
• More heavily discounted: Has been on the market for longer (launched in February 2012).

Reasons to prefer the Panasonic Lumix DMC-FZ200:

• Maximized detail: Lacks an anti-alias filter to exploit the sensor's full resolution potential.
• Better video: Provides higher movie framerates (1080/60p versus 1080/60i).
• Better sound: Can connect to an external microphone for higher quality sound recording.
• More flexible LCD: Has a swivel screen for odd-angle shots in portrait or landscape orientation.
• More selfie-friendly: Has an articulated screen that can be turned to be front-facing.
• Faster burst: Shoots at higher frequency (12 vs 9 flaps/sec) to capture the decisive moment.
• Ready to shoot: Has an integrated lens, whereas the E-M5 necessitates an extra lens.
• Longer lasting: Gets more shots (540 versus 360) out of a single battery charge.
• Easier fill-in: Has a small integrated flash to brighten shadows of backlit subjects.
• More affordable: Was introduced at a lower price, despite coming with a built-in lens.
• More modern: Was introduced somewhat (5 months) more recently.

If the count of individual advantages (bullet points above) is taken as a guide, the E-M5 comes out slightly ahead of the FZ200 (12 : 11 points). However, the relative importance of the various individual camera aspects will vary according to personal preferences and needs, so that you might like to apply corresponding weights to the particular features before making a decision on a new camera. A professional sports photographer will view the differences between cameras in a way that diverges from the perspective of a street photog, and a person interested in family portraits has distinct needs from a landscape 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 Olympus E-M5 and the Panasonic FZ200 place the cameras among the top in their class? Find out in the latest Best Mirrorless Interchangeable Lens Camera and Best Superzoom 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 remains partial and cannot reveal, for example, the shooting experience and imaging performance when actually working with the E-M5 or the FZ200. User reviews, such as those found at amazon, can sometimes inform about these issues, but such feedback is often incomplete, inconsistent, and biased.

Expert reviews

This is why expert reviews are important. 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	Street Price
1.		Olympus E-M5	4/5	+ +	..	80/100	4.5/5	5/5	Feb 2012	US$ 1 299	ebay.com
2.		Panasonic FZ200	3/5	+ +	..	80/100	4.5/5	4.5/5	Jul 2012	US$ 599	ebay.com
3.		Canon SX50	3/5	+ +	..	72/100	4.5/5	4.5/5	Sep 2012	US$ 429	ebay.com
4.		Canon SX60	3/5	+ +	..	75/100	4/5	4.5/5	Sep 2014	US$ 549	ebay.com
5.		Olympus E-M1	5/5	+ +	..	84/100	4.5/5	4.5/5	Sep 2013	US$ 1 399	ebay.com
6.		Olympus E-M5 II	5/5	+ +	4.5/5	81/100	5/5	5/5	Feb 2015	US$ 1 099	ebay.com
7.		Olympus E-P5	5/5	+ +	..	78/100	4.5/5	5/5	May 2013	US$ 999	ebay.com
8.		Olympus E-PL5	3/5	+ +	..	..	4.5/5	4.5/5	Sep 2012	US$ 599	ebay.com
9.		Olympus E-PL7	4/5	+	..	..	5/5	4/5	Aug 2014	US$ 599	ebay.com
10.		Olympus E-PM2	3/5	..	..	77/100	5/5	4.5/5	Sep 2012	US$ 499	ebay.com
11.		Olympus PEN-F	..	..	4/5	82/100	4.5/5	5/5	Jan 2016	US$ 1 199	ebay.com
12.		Panasonic FZ100	..	+	..	..	4.5/5	4.5/5	Jul 2010	US$ 499	ebay.com
13.		Panasonic FZ150	3/5	+ +	..	76/100	4/5	4.5/5	Aug 2011	US$ 499	ebay.com
14.		Panasonic FZ300	..	+ +	..	..	4.5/5	4.5/5	Jul 2015	US$ 599	amazon.com
15.		Panasonic GH3	5/5	+ +	..	79/100	4.5/5	4.5/5	Sep 2012	US$ 1 299	ebay.com
16.		Panasonic GX7	4/5	+	..	79/100	5/5	5/5	Aug 2013	US$ 999	ebay.com
17.		Panasonic GX8	5/5	+	..	82/100	4.5/5	4.5/5	Jul 2015	US$ 1 199	ebay.com
Note: (+ +) highly recommended; (+) recommended; (o) reviewed; (..) not available.

The above review scores should be interpreted with care, though. The ratings were established in reference to similarly priced cameras that were available in the market at the time of the review. Hence, a score should always be seen in the context of the camera's market launch date and its price, 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.

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Other camera comparisons

Did this review help to inform your camera decision process? In case you are interested in seeing how other cameras pair up, just make a corresponding selection in the search boxes below. There is also a set of direct links to comparison reviews that other users of the CAM-parator app explored.

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