MILC is an acronym formed from "Mirrorless Interchangeable Lens Camera." Circa 2010, this was one of several terms being floated to describe a new generation of digital cameras: Those offering interchangeable lens systems, but using purely electronic viewing technology (also see CSC and EVIL, which are synonymous).
"Mirrorless" refers to the absence of a reflex mirror, as found in traditional SLR designs. Instead, such cameras may use an electronic viewfinder with an eyepiece, or a display screen on the back of the camera, held at arm's length.
Some have predicted that electronic viewing may entirely displace optical viewfinders someday. Were this to happen, the term "mirrorless" would become anachronistic (as with "horseless carriage"). Accordingly, the form ILC is sometimes used as an alternative.
See the category Japanese digital system cameras for some MILC examples.