The Nikon FM is a mechanically operated, interchangeable lens, 35 mm film, single-lens reflex (SLR) camera.

They were all-new successors to the Nikkormat F- and EL-series of amateur-level SLRs, but despite the lower price-point they continued Nikon's reputation for high-quality construction, impressive durability and measured technical innovation.

Over the next twenty-nine years Nippon Kogaku would use the same chassis and basic design philosophy (with some modifications) for the FE (introduced in 1978), FM2 (1982), FE2 (1983), FA (1983) and the limited production FM3A of 2001.

Its reading is displayed by a "center-the-LED" system using vertically arranged light-emitting diodes (LEDs) next to +/O/- markers on the right side of the viewfinder that indicate overexposure, correct, or underexposure, respectively.

For its time, the FM used a modern titanium-bladed, vertical-travel focal plane shutter capable of speeds from 1 second to 1/1000 of a second, plus bulb.

Due to advances in technology, the 1970s and 1980s saw increasing competition between the major SLR brands: Nikon, Canon, Minolta, Pentax and Olympus.

Nippon Kogaku wanted to instill these qualities into a new smaller and lighter design, and incorporate their high standard of workmanship into entry-level SLRs.

[citation needed] The Nikon FM sold very well compared to the competing mechanical Pentax MX (released 1977) and Olympus OM-1N (1979) cameras.

Because of its durability and access to the Nikkor lens line, the FM saw success in its market niche and brought the introduction of an improved successor, the Nikon FM2, in 1982.