The upcoming Canon EF 85mm f/1.4L IS USM lens is a highly anticipated lens for most Canon photographers and it will be announced at the end of August 2017, most probably along with the Canon EOS M20 (M10 replacement) mirrorless camera. And this new Canon EF 85mm f/1.4L IS will NOT replace the current EF 85mm f/1.2L model ($1,899). The detailed specifications and pricing info are still unknown.
In addition, Canon will announce three more different lenses (in late August?), the focal length of these three new lenses are NOT known yet. You can see the list of upcoming cameras and lenses here.
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