The new Olympus E-M1 Mark II was expected to be announced at Photokina in September, but according to the latest rumors from 4/3 rumors, there is a possible 2-3 months delay on Panasonic and Olympus cameras with Sony sensor because of the Komamoto earthquake.
Olympus E-M1 II is rumored to use the Sony 20MP MFT sensor and the price will be approximately £1300.00 at launch, not much more than the Olympus E-M1. We do hope this new camera will start shipping before Christmas time.
Source: 4/3 rumors
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