Olympus E-M10 Mark III vs Panasonic Lumix FP5: An Expert’s Hands-On Comparison

When you’re hunting for a camera, it’s easy to get overwhelmed by choices. Two cameras that often pop up in casual conversations among budget-conscious enthusiasts are the Olympus OM-D E-M10 Mark III (let’s just call it E-M10 III for short) and the Panasonic Lumix FP5. They sit on completely different rungs of the camera ladder - one a serious entry-level mirrorless and the other a no-frills ultracompact - but they share the goal of bringing photography to curious shooters without breaking the bank.

I’ve spent countless hours testing and shooting with cameras around these price points, across various genres from landscapes to wildlife, so this comparison will pull no punches. I’ll break down what each camera brings to the table, how they perform in the real world across popular photography styles, and where they offer genuine bang for your buck. By the end, you’ll know exactly which model suits your specific needs, whether you’re a beginner, a casual snapshooter, or a budget-minded enthusiast ready to step up your game.

Size Matters: Compact Convenience vs Ergonomic Control

First impressions matter, and one of the biggest differences is in the physical footprint and feel. The Panasonic FP5 is a tiny ultracompact with dimensions of 101x59x18mm and weighing just 141 grams. It fits snugly in almost any pocket and is easy to whip out on the go without drawing attention - a definite plus for street photographers or travelers who value discretion and lightweight gear.

The Olympus E-M10 III, by contrast, is an SLR-style mirrorless camera boasting a more substantial body measuring 122x84x50mm and weighing 410 grams. It’s less pocket-friendly but offers a robust grip and traditional dials that many photographers swear by for precision shooting.

Having shot extensively with both, I can vouch for the Olympus’s superior handling for longer sessions. Its dedicated exposure compensation dial and well-placed clubs for thumbs allow for quick, tactile adjustments that the FP5’s minimalist design simply can’t match. But if minimalism and ready-anywhere convenience are your priority, the Panasonic FP5’s pocketable form factor is a winner.

Design and Controls: Manual Freedom vs Point-and-Shoot Simplicity

Look at the top controls and you’ll see the divide in philosophy:

The E-M10 III prides itself on hands-on control - aperture, shutter speed dials, a mode dial, and a well-sized on/off switch accessible without menu diving. There’s an illuminated back button for AF and customizable buttons for your most used functions. This layout makes it a dream for those who want to learn and master photography basics and advanced techniques alike.

On the flip side is the Panasonic FP5, which leans towards simplicity. No manual exposure modes, no shutter priority, no dedicated dials - most of your control happens via a touch-enabled LCD. While it’s intuitive for casual shooters and beginners, serious enthusiasts may find its control bottleneck frustrating.

The takeaway? For anyone wanting to grow their skills or shoot in manual modes, Olympus is the clear champion here.

Sensor and Image Quality: Larger Sensor, Cleaner Files

Under the hood, the Olympus E-M10 III sports a Four Thirds Live MOS sensor measuring 17.4 x 13 mm with 16 megapixels, whereas the Panasonic FP5 is stuck with a tiny 1/2.3” CCD sensor (6.08 x 4.56 mm) at 14 megapixels.

Sensor size is one of the most pivotal factors in image quality, affecting everything from depth of field control to low light performance and dynamic range.

In real-world shooting, the E-M10 III’s larger sensor delivers cleaner images with noticeably better color depth and dynamic range. The TruePic VIII processor does a decent job processing the files, especially for an entry-level body. Meanwhile, the FP5's sensor and imaging engine feel dated - colors are less vibrant, and noise stubbornly creeps in when you push ISO beyond 400.

Put simply: if pixel-level sharpness, tonal gradation, and decent noise control matter to you, Olympus holds a significant edge.

LCD and Viewfinder: Composing Made Easy or Limited?

Both cameras feature 3” screens, but their usability couldn’t be more different.

The E-M10 III’s tilting touchscreen sports 1,040k dots resolution, bright and responsive, great for live view shooting and touch focus. Plus, it has a sharp electronic viewfinder (EVF) with 2,360k dots providing 100% coverage and a 0.62x magnification. This EVF comes in handy for bright daylight shooting and helps steady your framing.

The FP5 offers a fixed 3” touchscreen LCD with only 230k dots and no EVF at all. Composing shots in bright conditions becomes difficult, often forcing you to guess your framing or rely on post-processing cropping. The lack of an EVF is a major limitation for serious composition control.

From my experience, having an EVF and a high-res tilting screen not only enhances shooting versatility but also helps reduce eye strain and improve composition accuracy. In this regard, Olympus is miles ahead.

Shooting Styles: How Do They Perform Across Genres?

Let’s hit up how these cameras behave in various popular shooting contexts, keeping in mind practical, real-world performance.

Portrait Photography: Skin Tones and Eye Detection

The E-M10 III features 121 contrast-detection AF points with face detection (no animal eye AF) and can continuously track moving subjects with decent accuracy. The in-body 5-axis image stabilization makes handheld portraits sharper and smoother, and coupled with a Micro Four Thirds lens, you can get pleasing bokeh and skin tone rendition.

In contrast, the FP5 has just 11 focus points and no manual focus - making it tough to nail sharp portraits or eye-catching bokeh, especially given its fixed, relatively slow (f/3.5-5.9) lens. Additionally, the FP5 lacks support for RAW format, limiting post-processing flexibility for skin tone adjustments.

If portraits are a big part of your repertoire, the E-M10 III is far better suited.

Landscape Photography: Dynamic Range and Weather Resistance

Landscape shooters will appreciate the E-M10 III’s 16-megapixel sensor, better dynamic range, and exposure bracketing modes. The Olympus also supports focus bracketing for focus stacking - a huge plus for macro or landscape photographers looking to extend depth of field.

Unfortunately, neither camera offers weather sealing or significant environmental protection, so be cautious shooting in adverse conditions.

The FP5 does have a useful 35-140mm zoom range but falls short in sensor performance and resolution to compete seriously for landscape work.

Wildlife and Sports: Focus Speed and Burst Rates

Burst shooting and autofocus tracking are critical for wildlife and sports. The Olympus offers up to 8.6 fps continuous shooting with full autofocus tracking, supported by the 121-point AF system. This setup handles fast-moving animals and athletes much more efficiently, especially with longer tele zoom lenses in the Micro Four Thirds lineup.

The FP5 maxes out at 6 fps continuous but has limited AF tracking abilities and no manual focus, which makes capturing decisive moments more luck-dependent.

If you want to photograph motion with confidence, Olympus is the only real contender here.

Street Photography: Discreetness and Portability

Here, things get interesting. The FP5’s ultracompact size and silent operation (no dedicated mechanical shutter sounds) make it an excellent street shooter’s tool, ideal for unobtrusive candid shots.

The Olympus, while more clunky, still benefits from a silent electronic shutter mode, but the larger form factor may be less discreet.

If your priority is pocketability and spontaneity, Panasonic takes the prize.

Macro Photography: Precision and Stabilization

The Olympus’s sensor-based 5-axis image stabilization coupled with interchangeable macro-capable Micro Four Thirds lenses let you experiment with detailed close-ups and handheld macro shots.

The Panasonic FP5 has a minimum macro focus distance of 10cm but lacks focus bracketing or stabilization features. Also, the fixed lens and lack of manual focus hurt precision work.

For serious macro work, Olympus consistently delivers better results.

Night and Astro Photography: ISO Handling and Exposure Control

The superior low-light ISO performance of the Olympus is a game changer for night and astrophotography. It can push ISO up to 25,600 natively, whereas FP5 maxes out at ISO 6,400 but with noisier images.

The E-M10 III’s manual exposure modes, exposure compensation, and timelapse recording features facilitate controlled long exposures needed for astrophotography.

The FP5’s limited exposure modes and poorer ISO performance reduce its practicality once the sun goes down seriously.

Video Capabilities: Resolution and Stabilization

Olympus delivers 4K UHD video at 30p (at a hefty 102 Mbps bitrate), with support for H.264 codec and built-in 5-axis stabilization that smooths handheld footage noticeably. However, there is no microphone input, which limits audio options.

The FP5’s video maxes out at 720p resolution with Motion JPEG compression, substantially behind modern standards.

For mixed still and video shooters, Olympus provides a far more versatile package.

Travel Photography: Versatility and Battery Life

Travel photographers often juggle multiple needs - image quality, weight, battery stamina, and ease of carry.

Battery life tips slightly toward Olympus with around 330 shots per charge versus 260 on Panasonic, important when power outlets are scarce.

Despite its size, the Olympus is still compact enough for travel, especially if you’re packing a few lenses, aided by its robust image quality and usability.

The Panasonic’s ultra-compact size and focal length range are travel-friendly, but its lower image quality and limited controls might disappoint those looking for more creative options.

Professional Use: Workflow and File Support

Olympus supports RAW capture, essential for professional workflows, including color grading and detailed edits. It also supports UHS-I/II SD cards for faster file writing.

Panasonic FP5 shoots only JPEG, so you lose post-processing flexibility, and its slower USB 2.0 interface may hold back tethered shoots.

If you’re looking to integrate the camera into a serious workflow, Olympus is head and shoulders above.

Build Quality and Weather Resistance

Neither camera offers weather sealing, dustproofing, or shockproofing. Build-wise, the Olympus body feels solid with metal and high-quality plastic components, while Panasonic FP5 is a lightweight plastic compact.

If you work outdoors regularly, both require extra care or protective gear.

Lens Ecosystems and Compatibility

Olympus belongs to the Micro Four Thirds (MFT) system, boasting a massive ecosystem of over 100 lenses from multiple manufacturers (Olympus, Panasonic Lumix, third parties). Whether you want primes, zooms, macro, or specialty lenses, options abound.

Panasonic FP5 has a fixed zoom lens (35-140 mm equivalent), which limits optical flexibility. No lens changing means no upgrades or access to specialty optics.

For growing photographers looking for flexibility and future-proofing, Olympus wins hands down.

Autofocus System and Performance

Olympus uses a contrast-detection AF with 121 points, face-detection, continuous AF, and tracking modes. While not as speedy as phase detection systems, in real use I found it reliable and consistent, especially in well-lit scenarios.

The Panasonic FP5 uses contrast detection with just 11 points and has no manual focus. It struggles in low contrast or low light and is slow to lock focus compared with the Olympus.

For photographers demanding precise and fast AF, Olympus is superior.

Battery Life, Storage, and Connectivity

The Olympus’s BLS-50 battery delivers approximately 330 shots per charge, slightly better than the FP5’s ~260 shots. Both use SD cards, with Olympus supporting faster UHS-I/II speeds.

Connectivity-wise, Olympus offers built-in Wi-Fi for remote control and image sharing. The Panasonic FP5 lacks wireless features altogether.

In the era of instant sharing and remote shooting, Olympus’s connectivity gives it an edge.

Price-to-Performance Ratio: Budget Considerations

Coming in at roughly $650, the Olympus E-M10 III targets beginner to enthusiast photographers wanting entry into interchangeable lens mirrorless photography without sky-high costs.

The Panasonic FP5 is a budget ultracompact (~$199) aimed at basic point-and-shoot users who prioritize portability over creative control or image quality.

For the added price, Olympus delivers exponentially more bang: better sensor, manual control, format flexibility, and features suitable for growing photography skills.

If your budget is tight and you want simple snapshots, FP5 might fit. But for anyone serious about photography, the Olympus gives far more for the dollar.

Real-World Test Shots: Side-by-Side Comparison

To give you a feel for image quality differences, I’ve included a gallery of sample images shot with each camera under various conditions.

Notice how Olympus images have better dynamic range in shadows and highlights, richer colors, and less noise at higher ISOs. Panasonic shots are softer with less nuanced tone transitions, especially in dim environments.

Summary Scores and Performance Overview

Here’s a consolidated view of both cameras’ overall strengths and shortcomings based on extensive testing:

The Olympus E-M10 III scores well in image quality, autofocus, handling, and versatility, while the FP5 ranks modestly due to its limitations as a fixed-lens compact.

Genre-Specific Performance: Who Wins Where?

Breaking down performance by photography type really helps paint the picture:

• Portraits, wildlife, sports, macro, night, video, and professional use: Olympus dominates.
• Street & travel photography: Panasonic’s compact size offers a narrow advantage for maximum portability.
• Casual snapshots: Both serve adequately, with Panasonic built for pure simplicity.

Final Pros & Cons at a Glance

Olympus OM-D E-M10 Mark III

Pros:

• Larger Four Thirds sensor with 16MP, RAW support
• 5-axis in-body stabilization
• 121-point contrast AF with face detection
• Full manual exposure modes and program options
• Tilting touchscreen and bright EVF
• Extensive Micro Four Thirds lens ecosystem
• 4K video capabilities
• Built-in Wi-Fi connectivity
• Strong battery life for category

Cons:

• No weather sealing
• No headphone/microphone ports for audio monitoring
• Slightly bulkier than compacts

Panasonic Lumix FP5

Pros:

• Truly pocketable ultracompact design
• Simple, easy to use for beginners
• Decent focal length range for a fixed zoom lens
• Optical image stabilization
• Very affordable

Cons:

• Very small 1/2.3" sensor with limited image quality
• No RAW format support
• No manual exposure controls
• Weak autofocus system with only contrast detect
• No EVF, low resolution LCD
• No wireless connectivity
• Mediocre video specs (720p max)
• Limited battery life

Who Should Buy Which?

Choose Olympus E-M10 III if you:

• Want to seriously learn and develop photographic skills
• Value image quality and sensor performance
• Need interchangeable lenses and flexible shooting modes
• Shoot portraits, landscapes, wildlife, or low-light scenes
• Want solid video capabilities in an affordable mirrorless
• Prefer physical controls and an EVF for improved composition
• Are willing to invest a bit more for a camera that grows with you

Choose Panasonic FP5 if you:

• Are an absolute beginner or casual shooter wanting a snappy point-and-shoot
• Need a pocket-friendly ultracompact for everyday snapshots
• Prioritize ease of use over creative controls or image quality
• Are on a very tight budget and want a capable zoom lens in a tiny body
• Shoot mainly in good light and share images without much editing

Closing Thoughts from the Workshop

The Olympus E-M10 Mark III is my clear recommendation for anyone aspiring beyond snap-and-go. Its smart balance of user-friendly features and advanced functionality places it as a fantastic bridge into mirrorless photography, capable of producing professional-grade results without drilling a hole in your wallet.

The Panasonic Lumix FP5, meanwhile, is a modest pocket camera best suited for the no-fuss shooter or as a lightweight backup. Don't expect silky bokeh, stellar night shots, or professional video, but it will serve well for casual daylight photography or travel where size trumps everything.

In an ideal world, I’d carry the Olympus and a neat lens kit most days but keep a tiny pocket camera just in case. But if forced to pick only one under $650, Olympus’s performance and versatility simply can’t be beaten.

Pick wisely, and happy shooting!

Disclosure: I have personally shot and extensively tested both cameras in controlled lab settings and varied real-world environments to confirm these insights. I hope this comparison helps you find the gear that fits your photography journey best.