We have been hearing rumors that Nikon is going to launch its own mirrorless interchangeable lens system camera, its now official Nikon has introduced the Nikon 1 system, with two new cameras.

The two new cameras in Nikon’s 1 system are the Nikon V1 and Nikon J1 and both models come with a new CX format 10.1 megapixel CMOS sensor and use Nikon’s new 1 system lens mount and both are capable of recording full HD video.

"The needs of the consumer are changing and the world is becoming one of visual conversation, which paves the way for the next chapter in image capture devices. The new Nikon 1 system is the culmination of more than 75 years of optical excellence and relentless pursuit to the unrivaled technological advancements in camera technology,” said Bo Kajiwara, Director of Marketing, Nikon Inc. "Nikon’s new 1 J1 camera allows consumers to have confidence in a new way to express themselves, with amazing speed, versatility, ease of use and portability.”

Both models will go on sale in the US on the 20th of October, the Nikon J1 will come with a 10-30mm lens kit and will retail for $649.95, and the Nikon V1 will also come with a 10-30mm lens kit and will retail for $899.95, you can find out more details over at Nikon.