Canon is rumored to reenter the compact camera market with the upcoming Powershot V1, set to be announced between March and April. The move follows the success of the Powershot G7 X Mark III. The new camera is expected to feature a 24MP CMOS sensor, 3x optical zoom, shoot 4K video, and offer Canon’s C-Log3 and HDR PQ color profiles. With an estimated price of $600-800, Canon aims to revamp its Powershot lineup and cater to photographers looking for new tech at an affordable price. The potential reveal of the Powershot V1 at CP+ in Tokyo is highly anticipated, signaling a fresh start for Canon compact cameras and a promising option in the market for 2025.