The Ricoh Theta S is a 14-million-pixel camera that records 360° scenes and up to 25 minutes of full HD video.
It also features an f/2 lens, an increased internal memory of 8GB and a Wi-Fi system built to transfer data four times faster than the current Theta camera.
The Theta S, which also incorporates an updated design and user interface, is due to go on sale from late October, priced £299.99.
The first Theta camera was announced in 2013.
New Google Street View app
Ricoh has also announced an app designed to allow people to capture and publish their ‘photo spheres’ to Google Maps.
The Google Street View app for smartphones and tablets can also be used to instantly view spherical images and video via wirelessly connected devices.
Google Maps product manager Charles Armstrong said: ‘The Street View app allows people all over the world to explore user contributions, Google’s own imagery and their own published photo spheres through a seamless world map of landscapes, landmarks, business interiors and more.
‘The Ricoh Theta S is a great tool to create this imagery, and we hope it inspires people to contribute to the map.’
Noboru Akahane, Ricoh Imaging’s president and CEO, said: ‘We are delighted to offer users increased value and richer 360° experiences with our new Ricoh Theta S.’
He added: ‘The model’s enhanced image quality and other exciting new features are sure to expand the scope of Ricoh Theta fans in all-new fields.’