Yi has released a new mirrorless camera called the M1 that will appeal to Leica lovers who may not want to spend Leica money. The M1, which is clearly inspired by the Leica T, features a 20MP Sony IMX269 Micro Four Thirds sensor, and comes with a 12-40mm zoom lens with an f/2.5-5.6 aperture for $330. No, that isn't a typo.
The M1 can shoot in RAW up to an ISO of 25,600, film in 4K, and has an optional 42.5mm f/1.8 aperture fixed lens, which will cost you an extra $120. It even comes with a mechanical shutter, and a 3-inch touchscreen display on the back (Wi-Fi and Bluetooth LE are also included).
If you want to get your hands on the M1 right now you'll have to be in China (or have a very good friend in the country), as the low-priced camera isn't set to be released in the US until October 12th. Customers in China can pick up the Yi M1 starting at $330 on September 23rd from JD.com or from Yi's website. US customers will have to pay a premium, as the camera will start at $499 when it is released on October 12th on Amazon.
Update: September 26th, 9:00 AM: Updated with US release information.