The telephoto downgrade is real and it is strange. The X200 Ultra had an f/2.3 telephoto lens and the X300 Ultra shipped with an f/2.7, tanking the aperture by nearly two full stops even though the sensor got upgraded to 200MP. That is not a trade-off anyone should have to accept on a phone that starts at 1,999 euros. A dimmer lens means worse low-light performance and a heavier reliance on the main sensor, which undermines the whole point of having a dedicated telephoto.

I wonder how the pictures compare to a Sony RX100.