Six years ago, the Four Thirds system was introduced to standardize camera lenses and make them interchangeable among different manufacturers. With the launch of the next generation DSLRs, a new system has been brought forward by Olympus and Panasonic called "Micro Four Thirds." This new system is similar to the older standard by utilizing the same image sensor designation, but does not use a mirror and pentaprism for the view finder. In place of the old design, new Micro Four Thirds cameras have a Live View feature offering a ultra-high-resolution picture preview which auto-adjusts for shutter speed, white balance, aperture and exposure. With the new construction, digital cameras are almost half the weight and size of traditional DSLRs. Because of difference in scale, Micro Four Thirds camera lenses are not interchangeable with traditional Four Third lenses.

Reference:
Four-thirds
Panasonic

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