TechRadar: Like the Nikon 1 J1, launched at the same time, the Nikon 1 V1 is a compact system camera (CSC). This means that it lacks the reflex mirror and optical viewfinder found in DSLR cameras, but it can accept interchangeable lenses.
Not surprisingly, the Nikon V1 has much in common with the J1, not least the 10.1 million effective pixel sensor, EXPEED 3 processor and the new Nikon 1 lens mount.
