Things have just changed pretty dramatically for Sigma's flagship DSLR, the SD1; due to "new efficiencies in the camera's production" the camera's MSRP has been slashed down to $3,300 — over 50 percent less than what the camera was selling for yesterday. Imaging Resource reports that you might see it for even less, as the minimum advertised price is now just $2,299. In a letter to the company's customers, CEO Kazuto Yamaki said that the SD1's original price of $9,700 was inflated due to the expense of producing the camera's 46-megapixel (15.3 x 3), APS-C Foveon X3 sensor, which has separate red, green, and blue photo detector layers. It's good news for just about everyone other than those who already have shelled out thousands more than the new MSRP.

The CEO says that the company will offer existing SD1 owners points that they can use to get Sigma products, which should help ease the pain a bit. While the new version of the SD1 is the same in every way other than price, Sigma has changed the name to honor the co-creator of the Foveon X3, Richard Merrill. The newly-dubbed SD1 Merrill should be available at its reduced price come March, and the points program for current owners will last from March to the end of the year.