Originally Posted by Ian
You can make smaller lenses by compromising on the optics. The APS-C sensor Sigma DP1 and DP2 have very small lenses, though these are considered to be quite good, optically.
Another thought here is whether the Samsung entry will follow the Pentax K mount via adapters. If so, there will be access to the Pentax Pancakes or the designers could adapt those pancake designs to the shorter registration distance. I wouldn't write Samsung off on lenses since they have access to Schneider and Pentax for help. We could have a Samsung/Pentax partnership to meet Panasonic/Oly in the Nullamirror market place. Another possibility would a DP-interchangeable lens model from Sigma.
Creating a new line of lenses isn't practical or cost effective for those that have large design inventories for reflex cameras, like Canon and Nikon. A market success with Nullamirrors might drive them to break that inertia, if they are losing ground. The sensativity point might actuall show up in the high end digicam like the G10 for Canon, rather than in the entry DSLRs. The consumer divisions of camera companies operate differently than the DSLR/Pro divisions, so that is a wild card.