This is the original model Ikoflex later known as the Ikoflex I. It was a low-cost twin-lens reflex, well-made and easy to use. When first introduced it was fitted with an f6.3 or f4.5 Novar lens in a Derval shutter. In 1935 the f4.5 lens was also available in a Klio or Compur Rapid shutter. In 1936 the model II was introduced and the earlier model phased out. In 1939 a new Ikoflex was introduced and also called a model I. The price in 1934 was £6.10.6.

The earliest versions have a ridged design on the font of the viewing hood. The following year the more usual leatherette finish was employed.

The design of the model I is novel; the film spools are vertical and each side of the lens. The film advance is by a lever on the front of the camera. The film counters are operated by the rotation of the tops of the film spools. The film chamber is completely removable and forms the base of the camera.