Ricoh has been making 360-degree cameras for sometime now. The company is now expanding its Theta line-up with a new 360-degree camera ‘Theta V’, which can capture 14-megapixel stills and 4K videos.

Sporting a lightweight and compact design, Theta V includes a new image sensor and processor for more realistic 360-degree content. The camera’s data transfer speed has also been enhanced and Theta V can transfer content 2.5 times faster than previous Theta models.

According to Ricoh, Theta V is powered by Snapdragon 625 processor and runs on Android. Although you won’t see Android on Theta V like you do on other devices, the company says that the presence of Android allows the camera’s functionality to be easily extended via smartphone applications. Various plug-ins are currently under development, Ricoh added.

The 360-degree camera is now available for pre-sale in the US for $429.95.

Here is a quick look at the key features and specifications of Ricoh Theta V

• Captures 4K compatible high resolution 360-degree video
• 360-degree spatial audio recording with the built-in 4-channel microphone
• High-speed data transfer
• Remote-Playback capability using a compatible wireless display adapter
• Bluetooth, Wi-Fi support
• Option to add more functions using plug-ins
• Support for 4K 360-degree live streaming output
• Can shoot using an ultra-fast shutter speed of up to 1/25,000 seconds
• 19 GB internal storage
• Improved accuracy for top/bottom correction processing using a combination of a newly equipped gyro sensor and internal acceleration sensor