The Canon EF 300mm f/2.8L IS II USM has been discontinued for quite some time. We have been told that Canon has prototypes out in the wild and that the lens is a ground-up redesign of the focal length. The source claims that weight has been reduced by almost 40% and the length by as much as 30% over it's EF predecessor, though they didn't have
To summarize: The 300mm f/2.8 weighs 5.6 lbs (2550g), costs $5500 in the UK, and with a 2x Extender produces an effective focal length of 960mm at. f/5.6 on a 40D. The 500mm f/4 weighs 8.5 lbs (3870g), costs $8250 in the UK, and with a 1.4x Extender produces an effective focal length of 1120mm at. f/5.6 on a 40D.
Canon’s Overview of the 300mm f/2.8L IS II Lens. A worthy successor to the popular Canon EF 300mm f/2.8 IS, the all-new Canon EF 300mm f/2.8 IS II USM super telephoto lens is lightweight, weighing approximately 13% less than its predecessor, yet offers faster operation, improved image stabilization and superior optics.
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canon ef 300mm f 2.8 l is ii usm review