The newer SeaFrogs housing fits the entire RX100 line (I through V), is rated for 60 meters rather than 40 meters, and has the zoom knob of the left side of the housing rather than in front, by the lens port, which is a lot more accessible. It is also made of almost opaque plastic, rather than transparent plastic of the first generation housing, which is better at stopping light leakage if you're using the internal flash to trigger strobes. It is, however, considerably more expensive - $250 or so, while the older housing can be easily found discounted to under $150. Note, however, that all Meikon housings for RX100 line, as well as the official Sony housing do not give you access to the rear dial, so full manual shooting is very awkward - you have to assign either aperture or shutter speed to the lens ring, and go to menus to switch between them. Finally, and here I'm not 100% certain, but the lens location in RX100 I/II and III/IV/V is slightly different, which, in the Sony universal housing, results in models I and II having the lens slightly off-center in the port, which makes it incompatible with add-on wet lenses. The SeaFrogs universal RX100 housing uses additional shims to fit the different camera models, so it might or might not be affected by the same issue.
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