Fujifilm is announcing the X-E5, a new $1,699.95 mirrorless camera due out in August. It has a 40-megapixel sensor, a new control lever on its front, a classic EVF mode with old-school frame lines, and of course a bunch of analog-inspired film simulations.

It’s yet another retro-looking mirrorless from Fujifilm, but it’s one of the more striking designs, with cleaner, straighter lines on its single-piece machined top plate that give it a bolder look than the still hard-to-get X100VI. The two share the same sensor, tilting rear screen, and in-body image stabilization system. And with the new 23mm f/2.8 lens announced alongside it, the X-E5 can even match the focal length of the X100’s built-in lens — but with a more pronounced, contoured grip. The lens is initially available only in a bundle with the camera for $1,899.95, but will be sold standalone for $499.95 in late 2025.

The new X-E5 is slightly larger than the last-gen X-E4 to accommodate image stabilization, and at 445 grams it’s about 80 grams heavier. The new, flippy control lever on its front has five programmable functions for enabling things like Surround View, which lets you see beyond the frame when shooting in cropped aspect ratios.

Fujifilm’s popular film simulations get a dedicated dial on the X-E5, with a viewing window on the top plate that’s reminiscent of frame counters on vintage cameras. There are 20 built-in film simulations in total, and the dial features six of the most popular presets, plus three user-customizable options.

The X-E5 has another new feature inspired by retro cameras: a Classic Display Mode for its built-in 2.36-million dot electronic viewfinder. Enabling this mode gives the viewfinder a vintage heads-up interface, with simplified red electronic numerals showing exposure values, rangefinder-like frame lines with rounded corners, and a needle-style light meter on the side. The frame lines look similar to the ones found on a Leica M3, while the light meter takes me right back to my old Pentax K1000 and other 35mm film SLR cameras.

Fujifilm is sticking to its playbook of updating its X-series cameras with its latest sensor, stabilization, and autofocus tech. The X-E5 isn’t as left-field as the quasi-toy X Half camera, but I wager it’s closer to what dedicated X-series fans actually want. And Fujifilm obviously isn’t done going to the well for more vintage vibes from classic cameras.