The PEN E-P5 is a mirror-less compact system camera based on the Micro Four Thirds standard. Announced in may 2013, it's the successor to the E-P3 launched two years previously, which makes it the new flagship in the Pen series. Note the Pen series are smaller models without built-in-view finders, while the OM-D series are larger, DSLR styled cameras with built-in view finders, at the time of writing there was only one 0M-D model, the E-M5.
Starting with the headline specifications, the Olympus E-P5 inherits the 16 megapixel sensor of the OM-D EM5, a four Megapixel upgrade over the earlier E-P3, although revealingly no higher than any other model using the Micro Four Thirds standard, nor does not it eliminate the low pass filter or employ a different color filter array as some rival systems have tried with success. It also inherits the E-M5 built-in-five axis stabilization which works with any lens you attach, a key benefit of Olympus cameras enjoy over most of the competition including Panasonic's own Micro Four Thirds bodies to date. Another key feature is built-in Wifi for wireless remote control or image transfer, although it does not have the NFC for easy Wifi setup like the the Panasonic Lumix GF6.
The PEN E-P5 shares the same 16.1 Megapixel MOS sensor introduced on the OM-D E-M5 and also used in the PEN E-PL5. The sensor is the same size as used in other Micro Four Thirds compact system cameras including the Panasonic Lumix GF6. It is great model and nice design.