Olympus Zuiko 14-42mm vs Olympus M.Zuiko 14-42mm – At the bottom of this PEN E-P1 review is a table with the clearest presentation I’ve seen comparing the differences between both lenses.

Khen Lim says:

The M.Zuiko 14-42mm f3.5-5.6 is a heavily reworked variant of the Four-Thirds based version. Compared to the latter, the ‘M’ version is some 40g lighter again (150g), having one less optical element (9 against 10) in the same number of groups although sharing the same number of ED and aspheric lenses and 7 circular diaphragm blades. Owing to its industry-first retractable design, Olympus has managed to make it 65% smaller with a compact 43.5mm extension, which explains the 40.5mm filter size as opposed to 58mm for the Four-Thirds version.

Olympus M.Zuiko Digital 14-42mm lens construction diagram
Lens architectures of the Tatsuno-built M.Zuiko 14-42mm ED f3.5-5.6
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