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P1 slashes XT prices - new beginning? IQ5 around the corner?

If P1 finally introduced a next-gen digital back - the famed "IQ5" - would you buy it?

  • I'm out - moved to sub-10k crop MF segment (X2D / Fuji et. al)

    Votes: 22 40.7%

  • Needs to be significant step-up from IQ4 tech-wise - and price needs to be lower 20-30k USD

    Votes: 17 31.5%

  • Needs to be significant step-up from IQ4 tech-wise - can be old price and customary trade-in

    Votes: 5 9.3%

  • I'll wait and see and then decide

    Votes: 10 18.5%
  • Total voters
    54
P

Paul Spinnler

Well-known member
UPDATE: P1 just announced the first price cuts I've ever witnessed since joining this forum, slashing XT body prices and lens prices. The key question now is - WHAT DOES THIS MEAN? Is P1 exiting bespoke slowly or are they doubling down and there's a lot to come? I've amended the thread title accordingly to discuss besides the interest in a new back also the fact that P1 seemingly cut the XT body price by 25% percent.

***

Hi guys

It's 2026. Still no IQ5. It has been a while. This stuff is expensive, but P1 backs are amongst the most coveted and best photographic tools money can buy. Still, the traditional upgrade cycle has been broken, the IQ4 was and is SO GOOD that it is is difficult to top. As time passes, some features are sorely missing: 1) EVF connectivity 2) Better I/O and 3) Decent battery life.

So, the question remains:

QUO VADIS - P1?
​

It is also unclear if the 250 MPX chip will ever be put into a digital back chassis - smaller pixels: is it needed, is DR the same, will people buy 3:2?

Maybe the tariffs, maybe the dire economic outlook, maybe AI. Parts of Rodenstock have been sold, Digaron HR production will depend on continued demand from consumers for new products at post-Covid, post-Tariffs cost price shock levels.

AI is eroding a lot of jobs, economic uncertainties weigh on top of the creative industries, the ivnestors in P1 are surely weighing the business case carefully about whether to launch a new digital back, etc.

So maybe the other way around: If P1 announced an IQ5 250 MPX tomorrow, list 45k USD, trade-in 25k-30k - would you be interested?

Curious to hear people's thoughts around this.

Again. It is 2026. No communication at all from P1 is really not confidence inspiring.

I also heard they slashed CPO prices of IQ3s now ... what does it all mean?

I would upgrade in case it is a significant step up and more palatable financially then in the past at least if I TRADE IN. I WANT VALUE PROTECTION FOR MY IQ4 stuff to enter the convo on a next-gen back purchase.

Times are rough, business is slow, so discretionary spend for high end cameras would need to be *right-sized" to the times we live in.
 
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Heard that P1 slashed CPO pricing for IQ3s - makes sense given X2Ds sell for sub 4kUSD price point these days ... not justifiable to command massive premium for IQ3s given it is essentiall pre-BSI Sony CMOS tech - ie issues with SK wides ...
 
Phase One has been active recently on LinkedIn ... reposting announcements from Phase One Geospatial:

www.linkedin.com

LinkedIn Login, Sign in | LinkedIn

Login to LinkedIn to keep in touch with people you know, share ideas, and build your career.
www.linkedin.com www.linkedin.com

Scrolling down below those posts, there are 'photographer story' posts two months ago and five months ago.
 
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Well, they released the new iXM-FS130, arial camera for 1cm Ground Sample Distance
if anyone is wondering where the journey goes.

"I've heard Phase One slashed CPO pricing for the IQ3"
How does this affect the upgrade path to the IQ4, and what is the current official upgrade price?

​

 
No, I am not interested, for two reasons: 1. I shoot film and am very happy with it; 2. The IQ5 doesn't exist, and I can't say either way without a spec sheet.

That said, I think the sensor in the IQ4 and IQ4 Achro (which I still have, until sold) are so good that on sensor alone I would be hard pressed to take the plunge. I would LOVE a IQ5 with the same sensor as the IQ4 but better electronics though.

I think you should add "I am happy with the IQ4" or "I'd take a IQ4 if I could instead" option(s) to the poll.

Best regards,

Vieri
 
I'm definitely staying put with my XF and IQ4 until it breaks, the quality I discovered finally, finally satisfied me to the same point where I felt the true power and scale of medium format akin to using 6x7 years ago. The fidelity is still astounding and the finest, even after all these years. As the IQ5 has been marked for 3:2 ratio, I'm not too fond of the idea which sort of counts me out as a fashion editorial photographer. With Phase on the very slow uptake of technical updates for their infinity platform (if anything anymore), its every likelihood this will be the last Phase One system/back combo I'll be using after 17 years and four P1 and Leaf backs later.
 
Seems like interest is there, but at a better price point.

Maybe 15-18k USD with IQ4 trade-in and 30-35k for a new one is the sweet spot.

Vs 25-30k trade-in and 45-50k list.

Of course the digital back business wouldn't be as juicy anymore for the dealers, but this is just a reflection of the fact that maybe the golden age is over and the money lies in other business areas.

At 30k list there's maybe 5k "juice" vs. 10k+ in the days of 50k backs.
 
If it appears, great - choice is always a good thing and I'd be glad to see P1s confidence in MFD going forward.

But, I wouldn't be surprised if P1 calls it a day in the prosumer market and signs off with the IQ4 ... and this is the main reason why:

(video starts at 8:30, but it's an interesting watch from end-to-end):

 
f8orbust said:
...

But, I wouldn't be surprised if P1 calls it a day in the prosumer market and signs off with the IQ4 ... and this is the main reason why:
Click to expand...

The "mirror" XF is now conceptually obsolescent, the XT is a specialized, technical camera, and the XC is very much a niche camera.

But still, there should be enough interest in a IQ4 Mark II!
 
f8orbust said:
If it appears, great - choice is always a good thing and I'd be glad to see P1s confidence in MFD going forward.

But, I wouldn't be surprised if P1 calls it a day in the prosumer market and signs off with the IQ4 ... and this is the main reason why:

(video starts at 8:30, but it's an interesting watch from end-to-end):

Click to expand...
Agree - Fuji effectively killed P1’s broader pro market share …
 
Paul alluded to Phase One reduced pricing on IQ3 100 product, and this is true.

As of today, we now are carrying the following, factory-certified, extremely low shot count, IQ3 units and variants, with full one year warranty:

IQ3 100 - $11,814
IQ3 100 Trichromatic - $12,889
IQ3 100 Achromatic - $12,889

This price includes the USA 15% tariff fee for Denmark imports, but split in half (7.5% effective tariff). So, an IQ3 100 Trichromatic is $11,990 + $899 (7.5%) for total $12,889.


Steve Hendrix
[email protected]
 
ThdeDude said:
The "mirror" XF is now conceptually obsolescent, the XT is a specialized, technical camera, and the XC is very much a niche camera.

But still, there should be enough interest in a IQ4 Mark II!
Click to expand...
I've wondered why P1 doesn't do a transition adapter like Canon et al. did going from SLR to mirrorless. The Lenses for XF are good, albeit quite large and unwieldy. What I imagine is an updated version of the IQ4 with better electronics (more below), then an adapter — mostly just air that gives the correct FFD, but also space for extra battery, a connection point for a grip and view finder.

The updated IQ4 (2.0, or whatever it's called), has the same sensor, but a more modern processor (think of the advancements in ARM processors since 2018) that is faster, runs cooler and more energy efficient. New battery tech. EVF connection port on the back (with connectivity to the XF adapter box on the pins). Better WIFI etc. Maybe some other goodies (I'd love it if there was a USBc breakout box for instance, a small unit that has the 12 pin socket, flash sync, etc. so I can move those connections where I want them rather than the slightly awkward position at the side of the back). Of course a better brighter screen.

Along with the XF lens adapter box they bring out a slim adapter for a new range of mirrorless lenses. It has the same connector for grip and EVF, but the lenses are engineered for short FFD much like the mirrorless SLR lenses available now with their advantages. The XT is kind of the adapter box when you think about it, but make it specifically a 'handheld' version to replace the XF. Come to think of it there would only need to be the slim adapter 'camera' and then an extension for XF era lenses which makes up the FFD.

The IQ4 isn't exactly an easy hand holdable sensor without stabilisation etc., but I've shot with it and just use the great DR to make up for it. Just shoot a faster shutter speed intentional and then bring the exposure back in C1.

Maybe they could have worked on something like this instead of the XC.

Short answer, I don't want an IQ5, I want to see some innovation.
 
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Another factor that may have an impact is that there is a clear trend towards drone photography. Why bother with a big system camera on a tripod if for the same weight & bulk you could have a triple lens drone (say, DJI Mavic 4 Pro). Obviously, camera on a drone opens up a complete different options as to camera positioning.

Photographer that may have used a P1 or HB H system as one of their primary camera systems may now instead use a drone.
 
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