Polaroid is still a company that makes stuff and things, and that rumored mirrorless camera with Android is the real deal. The company officially unveiled the iM1836 on Monday, and when you stop and think about everything this device is trying to do, it's not the worst deal imaginable. The Galaxy Camera just got some major competition.

Here's what it's packing: 18.1-megapixel, 1080p HD video recorder inside of a mirrorless body. And it doesn't have some janky early version of Android, either—version 4.1 is packed under the hood, according to Engadget, meaning we should (potentially) get a nice sweet, smooth experience. Instant Instagram posts all day, assuming you're near a Wi-Fi connection. Is no 3G a big deal? Probably not.

Polaroids new gem is smaller than the Galaxy Camera, with just a 3.5-inch display, but that's all in the name of keeping things tight and compact. What's really great is that optics can be swapped at will (there's an optional adapter for Micro Four Thirds lenses), along with a pop-up flash. A 10-30mm lens is included, so you're sure to get a nice wide perspective of all those vacations and birthday memories.

But you're asking yourself, "How much is this thing going to cost." Well that smaller screen and lack of data certainly keeps things low(ish); the cam is going to be available in the first quarter of this year for $399, which is smack in the face to the Galaxy Camera for sure. But is it better? We'll have to wait and see.