Could Canon be gearing up to replace their 50mm F/1.2L lens? The popular lens was first released in 2001, making it 14 years old this year, and a prime candidate to be brought up to date with the latest tech.

canon-50mm-12l

If a new report on the Canon rumor mill is any indication, we could be seeing a replacement for the 50mm F/1.2L late this year or early in 2016. The catch is that it is not the first lens on the plate to be replaced, that honor goes to the 35mm F/1.4L, apparently.

[REWIND: CANON 35MM F/1.4L II COMING IN 2015 | RUMOR]

The dilemma that has faced many Canon shooters lately has been to upgrade to the 50mm F/1.2L or the Sigma 50mm f/1.4 Art. The Sigma lens outshines the 50mm F/1.2L in almost every way, with just a few slight exceptions, and with the price difference, I’m sure that Canon is missing out on 50mm F/1.2L sales to the Sigma.

[Related Update: Canon RF 50mm F/1.2L Lens Review]

A new 50mm F/1.2L would improve the lens optically, bringing better image quality, to a point – you would think – that would match it better against the Sigma. It would also usher in a new age of auto focus performance, as the current 50mm F/1.2L was released just at the dawn of digital and the twilight of film; a new version could be optimized to focus better with digital systems.

Sigma 50mm F/1.4 DG HSM Art

I can see plenty of reasons to upgrade the 50mm F/1.2L, as I am sure you can too. The key for if it becomes a hit like the current version is/was, will be the price. Gone are the days of Canon and Nikon being able to charge exorbitant prices because their lenses had little to no competition. The Sigma offerings changed that, and Tamron is not far behind (though not in prime lenses), so if Canon wants to charge the world for this lens, it will need to back it up with performance and features that the Sigma can’t match.

It will be interesting to see how that all plays out, and our first look at that will be when Canon announces their new 35mm F/1.4L…

[via Canon Rumors]