Nikon unveiled a new compact system camera (CSC) tonight called the Nikon 1. The system, which consists of two compact camera bodies — the J1 ($649) and the V1 ($899), which both use new 10-megapixel sensors in a new Nikon-designed CX-format (13.2x 8.8mm) — is aimed at consumers and prosumers and includes four lenses: a 10mm f/2.8, 10-30mm f/3.5-5.6, and 30-110mm f/3.8-f/5., and 10-100mm f/4.5-5.5 “power zoom” lens.

The new Nikon cameras, which were the subject of intense Internet speculation and rumors in the last few months, were unveiled at a highly secretive event in New York City tonight with select members of the press. Journalists, including this reporter, were forced to surrender their laptops prior to the 12:01am unveiling of the Nikon 1 system at the Bath Houses event space in the Chelsea section of Manhattan.

Read our full story and see more photos here.

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