Nikon's diminutive, Ashton Kutcher-backed 1-series keeps on truckin' with today's announcement of the J3 and S1 models. The J3 is the third revision of the entry-level 1 cam in just over one year, while the S1 is a new concept in the series—an even smaller and more point-and-shoot styled model.

The J3 (specs) further pares down the J2's minimalist style, but also adds a physical mode dial on the top plate. The new 14.2-megapixel CX-format sensor is paired with the EXSPEED 3A processor, which is capable of a pretty impressive 15fps full-resolution burst shooting rate (for 22 frames). Nikon claims the camera's autofocus speed has also been improved versus prior models, which is pretty amazing since the 1 series has some of the fastest AF on the planet.

The camera will be available in white, black, silver, burgundy, and beige, at a suggested price of $599.95 with the 10-30mm kit lens. It will reportedly be available in February 2013, in stores and online.

Smaller and simpler than the J3, the S1 (specs) mates a 10-megapixel CX sensor with the same EXSPEED 3A processor found in the J3. That means that it can achieve the same scorching framerates as the big brother, but only for a total of 15 frames. The mode dial on the S1 has been shifted to the gui as part of the general theme of simplification, and the 3-inch rear LCD is lower-resolution (460k-dot vs 921k), but the rest remains the same between the two.

The S1 will hit shelves in February, too, sold with the 11-27.5mm kit lens. All you fashionistas can take your pick of black, white, silver, pink, and khaki finishes.

Along with the two new cameras, Nikon is also pushing a pair of new zoom lenses. First up is a revamped 10-100mm f/3.5-5.6 superzoom (27-270mm equivalent) that ditches the power zoom functionality of the original in exchange for lower weight and a slimmer figure. The lens sports optical vibration reduction and a whole mess of aspherical and ED elements for superior image quality (or so we're told). When purchased with a kit, it'll come in a huge variety of colors, but separately you can get it for $549.95 in black, white, or silver.

The second lens is a 6.7-13mm f/3.5-5.6 optic—the first ultrawide zoom for the Nikon 1 system. The lens offers a 100-degree angle of view at its widest focal length and is equivalent to 18-35mm in full-frame terms. It also includes a nifty retractable design that means it's just 2.2 by 1.8 inches at its smallest. This one will sell for $499.95 and come in black and silver finishes.

Last but not least, Nikon has also unloaded a $749.95 underwater case (the WP-N2) that goes down to 131 feet beneath the sea, weighs just 28 ounces, and fits the J3 and S1 with the 10-30mm lens. The case has controls for virtually every setting and also includes a dual-port system for underwater flash work.

For more information on this and other Nikon products, check out their press room.