Panasonic cuts prices of full-frame lenses – here's why Sony, Canon and Nikon should be worried

Alongside revealing fresh details about the Panasonic S5 IIX full-frame mirrorless camera and a firmware update 2.0 for the S5 II which unleashes Blackmagic Raw (BRAW) and ProRes RAW video recording, the Japanese camera maker has announced an aggressive repositioning of some of its popular full-frame lenses.

A mirrorless camera and accompanying lenses fit for professional video productions can cost an arm and a leg. Prices seem to get higher and higher as camera tech improves, despite the challenging current economic climate – and so Panasonic slashing the prices of key lenses is a breath of fresh air. 

Three of Panasonic’s leading full-frame lenses will now cost up to 28% less, and are as follows;

• Panasonic S Pro 24-70mm F2.8 £2,199 > £1,799
• Panasonic S Pro 70-200mm F2.8 £2,599 > £2,009
• Panasonic S 70-300mm F4.5-5.6 MACRO O.I.S £1,259 > £899

The 24-70mm and 70-200mm lenses are the mainstay of event and wedding photographers and filmmakers. Before these price reductions, the brands were on a similar playing field (except Canon) as you can see in the table below. 

Rivals Sony, Canon, and Nikon – none of whom are known for being ‘cheap’ – now have a competitive pricing dilemma, and really should follow suit.

Nikon does run promotions on lenses, as does Canon from time to time. But these are usually temporary deals, while Panasonic has permanently shifted the price point of these lenses. Whether we will see other brands follow Panasonic’s lead is to be seen, or if Panasonic will extend this repricing to other lenses. 

Not only do some of Panasonic’s lenses now cost a lot less in Europe (we're yet to hear if these price cuts will be rolled out in the US or Australia), but its cameras are to be taken very seriously too. 

In the S5 II, Panasonic finally implemented phase detection AF, which brings its continuous autofocusing for video up to speed with rival systems. Now a new supercharged version for video production – the S5 II X – with class-leading video recording modes, leaves the similarly priced Sony A7 IV in the shade.

For now, price cuts are a promising move and we can hope for more of the same across the board. It's also Panasonic laying down another gauntlet – its camera system should be taken seriously, and we can reasonably expect more first-time buyers in video production to opt for Panasonic ahead of its rivals. 

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