Nikon today announced the development of AF-S NIKKOR 500mm f/5.6E PF ED VR lens. This lens is designed to be a “lightweight” 500mm prime lens for photographers who want something like that for their big, heavy, clunky DSLR camera. Similar as previous AF-S NIKKOR 300mm f/4E PF ED VR Lens. By design, a Phase Fresnel element reduces chromatic aberration introduced by traditional refractive elements, while also reducing the overall length required to achieve high focal length magnification. This usually results in a decrease in total number of lens elements, as well as in overall size and weight.