Financial report: Olympus keeps losing money, but sells more Digital Cameras.

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Olympus released the latest Q4 financial report (Click here to download the pdf). Olympus lost 49 Mrd. Yen (491 Mio. €). While Olympus Camera Business can’t still bring any profit Olympus managed to sell more digital cameras (+0,6%). Results would have been better without the Thai Flood that affected the whole camera industry production.

Olympus didn’t release any forecast but my very irrational feeling says that things will go better for Olympus this year. It cannot go worse than last year or not? 🙂

UPDATE: Thom Hogan analyzed the Olympus financial results on Sansmirror.com (Click here).

One more thing: Michael Woodford sues Olympus for $60m (The Telegraph). Damn is that a long going story!

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  • st3v4nt

    Wether or not Olympus camera division going to profit depends on how well Olympus reply to much needed firmware update and satisfying OM-D user.

    • Amadeo

      Sorry to break it to you, but firmware updates aren’t going to help Olympus turn a profit. This problem is much bigger than their imaging department, let alone the OM-D specifically. Every department’s revenues were down year over year, short of the communications arm, which saw a 9.5% spike. They need to capitalize on that.

      In regards to the imaging business, they really should trim their product line and rein it in some. They have way too many models with little to no differentiation. This all takes money to manufacture. Focus the lineup, turn a profit, and spin off the business into its own entity, so the books aren’t affected by the cancerous falling revenue of the other divisions.

      • mooboy

        Given the high demand OM-D is in everywhere – agree with Amadeo that a firmware update will do squat diddly to their bottom line. But I am curious, st3v4nt, what is missing that requires a ‘much needed firmware’ update?

        There’s lots of features I’d like to see added which could be done through a firmware update (focus peaking, one button zoom, assign a function to the delete button when in shooting mode, make 3*3 gridlines more even spaced) – but I’m not planning to rush out and buy another OM-D if they suddenly did all these. in the meantime, I can’t see any obvious flaws which need a firmware update.

        Regarding model line in m43s – I’d like to see 3. Pen mini (cheapest entry level – no view finder, smallest possible), Pen Pro (corner style vf, weatehr sealing and all the good stuff), OMD (as already is). Oh, and idealy, battery grips that can be shared between IMD and Pen Pro lines. And while I’m ranting about MY needs, a focus selctor on battery grip for when in portrait mode.Ok, will wake up now.

      • Vlad

        +1

        • st3v4nt

          Well the banding with 20 mm under low light, some random freezes after sleep mode, are two of the annoying problem that could easily fixed by firmware update. Other probably fixing the inconsistency with button customization, 24P mode in movie, IS support with MF lens in movie, and perhaps some of your idea would also nice if Olympus could add it via updating firmware, sort of giving the long term benefit for OM-D user, and make the high price justified. Of course Olympus could add the functionality in EM-7 or next OM-D version, but that would make a lot of people furious. Same thing that happen when they keep updating their 14-42 lens or adding AF lamp assist in PEN.

          • lorenzino

            But what all this has to do with the losses of all Olympus divisions?
            Em-5 is still very popular, and actually much more popular than expected byt Oly management. For sure, it will not be a loss. Everything else may be, may have been or will be, but not that exact camera, with or without firmware update

      • @Amadeo
        the one major thing to fix would be to have spot metering linked to the focus point, maybe also increase the -+EV range from 3 to 5

      • Raist

        Amadeo is right. +500 from me.

  • Ansel

    Seems Olympus need to find new ways to make more money, such as sell all lens cap, body cap, changer…. separately.

    • mooboy

      Shhhh – don’t give them ideas!

    • The fraud perpetrated by their long time Japanese leaders that was only discovered and publicized by the now fired Ametican CEO is the very heart of the reason Olympus is in dire straights. And yes they seem to be to small a camera manufacturer to have so many similar cheap and mid range cameras. Though I am personally very pleased with my chrome toylike OM D…

      • @Jim Felt
        you are wrong on so many levels, it’s hard to know where to begin…

        • tmrgrs

          Considering how confused and mixed up Jim Felt is, It’s doubtful that he even has an OM-D or any other m4/3 camera.

  • caver3d

    Woodford is also in it for the money. Do not think for a minute that he’s the white knight. This is one guy who clearly craves the spotlight to soothe his ego. Good riddance.

    • mert

      @caver3d
      No need for a personal attack on a man who did what was right and ethical when confronted with fraud on a massive scale.

      • I think @caver3d is referring to this suing. He would have got a payout, or at least earned a heap of money from his employment anyway. He doesn’t need to sue and is only doing it for the money.

      • @mert
        Woodford has admitted he suspected fraud many many years ago but took up up the offer of head of Europe for Olympus instead, so not so ethical eh?

        • Vlad

          “Suspected” being the keyword.

        • Raist3d

          This excuse of yours has been discussed and debunked months ago.

      • Sho-Bud

        Wasn’t he the man who promised to keep his mouth shut, as long as he would get all power?? In my view he is just an ordinary blackmailer.

      • flash

        Woodford was cancer on Olympus, and that is with out the scandal. The idea that you can cut your way to success in its market, not support different divisions etc. I am not sure what was worst action by the Olympus board, ignoring the scandal or the hiring and retention of executives like Woodford.

        There are so many great bright engineers, and other employees at Olympus, much more the their competitors.

      • caver3d

        Mert – Don’t be so naive. See the other posts below. We have every right to criticize a public figure like Woodford. Has nothing to do with a personal attack. I’ve worked in the corporate world for many years, including upper management. Don’ t think for a second that these guys are models of ethical conduct. Believe me, they get more than their fair share from the corporate coffers, including Woodford.

  • solar

    Agree with caver3d. It would be naive to believe that Woodford was totally innocent in his years of employment with Olympus. There is much that the general public are not aware of, and never will be. He is definitely not the White Knight; more the shit stirring whinger that spat his dummy. His payout would have been substantial, and I would not be surprised if he was not offered a quiet, honorable and financially beneficial departure, but chose to stand his ground.

    Welcome to the real world, where foreigners have limited rights in countries outside of their own.

    • If he is not innocent, then he’s an idiot taking the whole thing to court. All they would have to do is show that he knew what was happening and the case would be thrown out. Not to mention the fact that he’d be risking jail.

      If he was any way involved in the fraud he would have kept his mouth shut and he’d STILL be keeping it shut.

  • Adriaantie

    By by olympus. Maybe they should have droped the 43 gadgets and focused on apsc or bigger sensors.

    • Camaman

      Lol!
      Hahaha…

    • napalm

      your APS-C sensor Sony is also losing money, almost to the brink of bankruptcy LOL

    • mooboy

      Yeah… that would really help them to stand out from Sony, Samsung, Fuji and the new Leica offering rumoured for later in year..

  • Anonymous

    Go to your favorite online retailer. Search for Olympus compacts and ultrazooms. Count the various models. There’s your answer as to why the camera division is losing money.

    • Mr. Reeee

      Just go to the Olympus web site and count…
      24 compact cameras! The EP2, EPL1 and EPL2 are still listed as current models!

      • Geoff

        And how much of that explains the wait for E-M5. I was in a high street retailer some months ago, when a customer was looking at an E-P3, the assistant talked him out of buying it as the Nikon V1 was to be announced soon (it was some 3 months later as it happens), telling the customer it would be a much better camera than anything Olympus had short of E-5, at the time no one outside of Nikon had handled one let alone revued it, there is a big part of Olympus trouble. Yes there are old models still available, because retailer’s will not sell then, not cannot sell them. I spoke to the assistant afterwards asking why he did that, his explanation was, instructions there would be a bigger margin with the Nikon.

        • Mr. Reeee

          Most likely it’s a production issue, coupled with higher than expected demand. It’s not an uncommon problem.

          • MichaelKJ

            The D800 is just as difficult to get as the E-M5. Companies can only produce so many cameras at a time. If they anticipate high demand, they can build up sufficient inventory before releasing the product. However, this usually isn’t the most profitable approach because it delays the release of the product and requires additional inventory space.

            However, it does appear that Oly underestimated demand for the silver model versus the black.

        • I remember the same thing when I was looking for an E-PL2 in stores about a year and a half ago. A couple of these stores had guys who said that I should buy the Sony NEX instead (which had just been introduced), saying that it would “obsolete” m4/3 because of the bigger sensor. I held my tongue and left, noting, of course, that they had a big Sony display setup, and were very probably more highly-incented financially to sell the NEX.

      • Mark Patterson

        Yeah, they seem to have too many models, a bit like Apple at the time Jobs came back. http://www.bhphotovideo.com/c/search?atclk=Brand_Olympus&ci=8612&N=4288586279+4291306223

      • Anonymous

        That’s pretty much 24 compact cameras yearly. More or less every year they do a refresh of everything, of all the shitty crappy useless compact cameras and DSLR-like ultrazooms that nobody buys. All the money loss for the camera division *always* came from there; that money loss killed 4/3, and now it’s killing m4/3 despite the success of the E-M5 and the E-x3 PEN line.

  • Pim

    Oly, join asap an other company!!
    Losses are there already for years.. but now they are visible! ANd they are bad…

    • napalm

      Sony is also losing money. So is Panasonic. That’s normal in this climate. Olympus has had it share of loses in the past and they are still around.

    • AtlDave

      When one company buys another they have to take on the debts as well as the assets. Given that why would some other company want to buy one that will be losing money for years?

  • Geoff

    Why does everyone want to knock Olympus, they are not the only company in trouble. There’s Sony, openly in deep trouble; we’ve already lost Pentax (one of the biggest names in photography), now owned by Ricoh (who it seems will drop their name, in order to hold onto the Pentax ID). I also wonder about the health of Nikon, recent mistakes in camera pricing, announced way under their new price, coupled with the quiet way they appear to be moving manufacture to China, much lower cost than Japan, an obvious need to cut costs.

    Comment by Anonymous, that’s if you can find an Olympus in your local retailer, I know for a fact that one big High Street chain will not stock many Olympus cameras (because it is not in their interest), what they do stock they certainly don’t try to sell, will always try and push you to Canon or Nikon, work out why for yourselves. I know why, as I was informed by my local stores assitant manager.

    • Vlad

      Is there some competition about who loses the most money? The article simply is about Olympus.
      And what do you mean by “we’ve lost Pentax”?

      • Geoff

        Pentax as a company no longer exists, it was bought out by Ricoh last year, the name still exists but the company is Ricoh. Who are now considering dropping the Ricoh name as a brand, they will however continue to produce cameras under the Pentax brand.

        Amateur Photographer 26th May, “Ricoh issues camera brand statement”. Quote “Ricoh issues camera brand statement
        Ricoh has released a statement in response to a suggestion that Ricoh-branded cameras will disappear from 2013, following the firm’s takeover of Pentax announced last year.”

        http://www.amateurphotographer.co.uk/photo-news/538731/ricoh-issues-camera-brand-statement

  • mahler

    One camera (EM-5) is not enough to reverse the trend, partly caused by a wrong system camera strategy: stubborn keeping of a PEN-only product line, good lenses too late, unconvincing distribution of features, repeating incarnations of the same products (14-42mm lenses, Pen bodies).

    The EM-5 was the only significant camera body release of Olympus in years. The EP-1 was a lame duck, the EP-2 too expensive, the EPL-1 was a hot seller mostly due to its very low prices due to overproduction. The third generation PENs had a strange distribution of features, with the flagship even lacking a tilt screen.

    The EM-5 has now everytthing enthusiasts want. One can only hope that Olympus learns from this:

    – reduce the PEN line to one or two models
    – build on the success of the EM-5 with more differentiated models of an OM-D line
    – concentrate more on ergonomics than on retro finish
    – develop the lens line in the direction of quality instead of mass market

    • @Mahler
      the PEN line has given Olympus massive market share and brought new consumers into the world of photography…

      Good lenses have come once thye have sold enough bodies and established demand along with developing technology.

      None of the PEN lines have been over produced they have been produced to meet demand and priced to sell.

      – PEN needs to be 3-4 models to effectively target the type of consumers it’s aimed at
      – Olympus will probably only ever have 2 models in the O-MD line
      – appearance is a massive factor in appealing to today’s fickle consumers (look at the mobile phone market)
      – they are doing both , quality and quantity

      • Anonymous

        The E-PL1 was purposedly overproduced so it can be dumped cheaply on the market, which is what has been happening for close to a year now, and there’s still no end to it.

        • @Anonymous
          definition of overproduced is producing too much of something you can’t sell.
          If Olympus can continue to sell the E-PL1 then it has not been “over produced” (nearly a dumb and misused a term as “fire sale”)

          • Anonymous

            From what I heard, the total run of E-PL1 kits equals the combined production of all other PEN bodies issued so far.

          • MichaelKJ

            @YDDU
            I think a better definition of overproducing is making too much of something you can’t sell at a profit. Whether or not Oly is continuing to make a profit on the E-PL1/2 is debatable (the E-PL1 is no longer being sold in Japan, so I assume it is no longer being produced).

            IMO, the E-PL1 is probably being sold at a loss, but this may still be good for Oly in the long run because, as you noted, it has had a major impact on Oly’s market share. Amazon sells the Kindle at a loss because the e-reader market is highly competitive and market share is key at this point. I think a similar argument can be made for the camera market. The camera market is currently in a state of upheaval that we haven’t seen since digital replaced film. The next couple of years will be critical in determining which companies succeed or fail.

            • @MichealKJ
              the more you produce something the lower production costs you achieve (development costs would of already been recouped), also it looks like Olympus isn’t spending any money on marketing their older models they are competing on price, which looks like they have stopped the Nikon1 getting any traction (with only moderate sales success in the USA – a quote from a Nikon spokesman)….

              • MichaelKJ

                @YDDU
                I am well aware of the economic benefits of economies of scale. Nevertheless, at some point production costs level off. For each E-PL-1/2 Oly sells it still incurs production and distribution costs. The price also has to be set at a level that allows sellers to make a profit. Neither of us knows if Oly’s production & distribution costs are below the recent prices of these models. Regardless, I think these models have greatly increased the number of Oly mFT users. Hopefully, many of them will help Oly’s bottom line by purchasing lenses and more advanced models.

            • lorenzino

              Who said the epl1 is not being sold anymore in Japan? At least the Epl1s is unbiquitous in stores in Akihabara. See also online price comparison resource kakaku.com (if the link works):

              http://kakaku.com/search_results/olympus+epl1s/?sort=popular&nameonly=off&l=l&lid=ksearch%5Fsearchbutton&act=Input&n=20

          • Raist3d

            That’s false. You can still sell once you continue dumping the price lower and lower to the point of losing money. Yes, you still sell them, but it hurt your bottom line. It’s a liquidation sale at that point.

      • Esa Tuunanen

        > None of the PEN lines have been over produced they have been produced to meet demand and priced to sell.
        So that’s why they have been/are often selling all those older PENs at heavily discounted prices…
        Sure makes brick and mortar stores operated by those who actually care about photography and aren’t just trained parrots of Canikon/Sony happy that Oly cameras have high risk of stock’s value dropping by big amount in short time.

        And you mean lots of quantity and little quality.
        If quantity equaled profitability then shouldn’t imaging division be already profitable?
        In fair half year from late 2010 to summer 2011 Oly released freaking FIVE iterations of PEN!
        Most 4/3 DSLRs Oly has announced in as short time was three and second round’s E-30, E-620 and E-450 were well differentiated models which isn’t something we can say about PENs.

        > – appearance is a massive factor in appealing to today’s fickle consumers
        Shouldn’t that be big reason to make couple bodies also for those looking functionality and who would be more reliable long term customers than headless fashion consumers?

      • mahler

        Overproduction means to produce more than the market demands, which was clearly the case with some of the PENs. A company strategy based on overproduction cannot be good, because a lot of the stock has to be sold at very low prices with no or small profit (EPL-1 probably).

    • Esa Tuunanen

      > The EM-5 was the only significant camera body release of Olympus in years.
      Since time they released E-30, E-620 and E-450 in period from late 2008 to spring 2009.
      Those were well differentiated bodies with logical feature sets to different slots on markets instead of shotgunned semi-random feature sets of various iterations of PEN.
      But then they basically killed off 4/3 with unwise statements of marketing bigshots and admitted situation with already old age of sensor and otherwise small improvement in E-5 which was really more E-3 MkII than new camera.

      • mahler

        FT bodies of Olympus were shelf warmers and stocks had to be sold at very cheap prices. The E-xx and E-x bodies never matched the IQ of the competitors of similar size (APS-C and FF bodies). The E-xxx cameras had deal breaker bad quality view finders (dark, tunnel-vision, small). Thus, FT was doomed.

  • Ernest.orf

    No no , camera selection of this year are really good, they implemented a lot of thngs, sz31 is a good ultrazoom camera, sh21-25 are really good in low light, and as HDR, tg820 has almost instant focus with a lot of quality , vr340 is a cheaper good way 10x zoom camera with a powerfull 24-300 mm for 130€, the new upcoming tg-1 as a lot of features and a quite good F 2.0 , that is never seen in a all whether camera, we all know the benefits of the XZ1 , the actual pen line , was the after-before in a mirrorless cameras , all the complains was that , a mirroles cam has an slow autofocus, not too much features , not much lenses,not much accesories,poor low light action and all,
    NOW SEE AGAIN , a lots lots of lenses , olympus ,panasonic,voigtlander,leica,sigma,samyang,plus adapters and all ,all the pens has a super faster focus, the shooter of the ep3 is awesome compared to a noisy canon ,nikon system, a simple 399€ epm1 as WB MELKIN regulation , 35 points oc focus,IBIS , BULB system, histogram in screen, and a lots of features , non of the photo brands has something similar right now, a tons of accesories, the em5 is the prove that MFT can work really good in poor light conditions and all,
    I THINK THE CAMERA DIVISION IS A STRONG DIVISION THIS YEAR & the best is not yet to come!!!

    • BLI

      hopefully, the best is *yet to come*.

      • lorenzino

        😀

  • Lars

    great oly has to sell more to make more loss.. that´s biz!!! ROTFL

  • stefano romei

    olympus managed badly many things.
    is true that in the shops canon and nikon are really pushed.oly is forgotten.
    without a new flagship e7 ,able to keep some high end users,nobody will believe in oly.
    the main problem remain what people feels about oly.

    • SteveO

      The issue is most people don’t even know Olympus exists. I can’t tell how many times people have seen my Oly DSLR’s/E-PM1 and just kind of scratched their heads over this “off-brand”.

      Their OM days of glory are long, long behind them, very few recall that they basically invented the high quality small DSLR system. Forget it, gone, move on. Who are they today, that’s the blank they need to fill in for those outside the “cult” of true-believers.

      They need:
      1) one heck of a catchy publicity campaign to redefine the brand in the public eye
      2) direction/consolidation in their product line, especially their compacts, but also combining the E-PL3/E-PM1 to simplify that line.
      3) get the E-M5 sensor into their full IL camera line ASAP and advertise (that word again) its capabilities
      4) reverse the wrong-headed notion that PEN answers all ILC needs when 2 years post E-P1 they still can’t track action or properly AF 4/3’s HG and SHG zooms. They’ve killed 4/3’s lens sales, need to resurrect them.
      5) to do this they need a new E-M5 sensored smaller flagship DSLR (say K-5 size, but slimmer with reduced 4/3’s flange distance) along with an affordable E-M5 sensored E-xxx.
      6) if Canikon provides greater sales incentives to retailers, they need to compete with same

      Canikon sold over 35 million compacts and 12 million DSLR’s last year. I think there just might be a market out there ;)! It’s up to Olympus to better their chances of competing by making some well-planned moves.

      • MichaelKJ

        @Steve0
        Mirrorless is the future, which is why Nikon made the 1 series and Canon will soon join the party. Olympus is primarily a medical equipment (endoscopes) company with financial problems. Having lost money on 4/3 products for years, they realize they have lost the DSLR battle for good.

        Yes, there still is a market for compacts and DSLRs. However, trying to break Canikon’s dominance is a losing game. We are seeing many markets these days where 2 and sometimes 3 companies become dominant. Oly has limited resources and I think all of their camera funds should be directed at mirrorless.

        • @MichealKJ
          the market for compacts is shrinking (being replaced by smart phones or people upgrading to mirrorless), the growth in the market in DSLRs is slowing.
          The Nikon1 is largely a fail, and the new Nikon DSLRs haven’t excited anyone.
          As for Canon I think they too will remain conservative with their “mirrorless”offering and again their latest DSLR’s haven’t exactly proved innovative.

          So Oly, Panny and Sony have 3-4 years (beecause canikon won’t release anything ground breaking in the meantime) to further develop the mirrorless market as DSLR sales will start to fall in 2 years and compacts already are…..

          • Esa Tuunanen

            > The Nikon1 is largely a fail… As for Canon I think they too will remain conservative
            Metal construction of Nikon 1s sure feels sturdy but otherwise those are heavily overpriced bar of soap ergonomics point and shoots. (though possibly they’re meant as step before finalizing hybrid AF)

            Also Canon can afford to be conservative and fail to make that mirrorless system of the future for as long as others don’t rise up to the job of making that fully digital modern system which offers body/optics combinations from smaller pocketable size to fully featured bodies with proper ergonomy and direct controls capable to replacing DSLR as that serious no gimmicks tool in Europe/North America.

            If they now just build logical set of different feature set bodies Olympus/Panasonic would in very good position to move m4/3 toward that position:
            Pentax’s solution to fully digital system has been seen and only thing it dissolves are hopes about common sense of their designers.

            Sony already has mirrorless system with NEX but can’t make optics which could match body size and their SLTs updated old SLR system to offer seamless live view and integration of video in that no fashion gimmicks category leaving it doubtfull if they even want to increase differentiation of NEX bodies.

            Samsung has ambitions and lots of resources but even if they manage to get best sensor tech and make diverse set of differentiated bodies they simply lack name in photography.

          • MichaelKJ

            Although you are probably right, I think Canon could surprise everyone with their mirrorless entry. Just as they came out with the successful digital Rebel, they could release a mirrorless Rebel accompanied by heavy advertising.

          • Raist3d

            The new Nikon DSLR’s haven’t excited anyone? Surely you are not talking about the new D800 line because I sure see a lot of people excited about it.

      • Geoff

        In response to item 5, that is the most ridiculous statement, it would mean designing a complete new range, the flange distance has to remain the same as either 4/3rds or u4/3rds to ensure the lenses are there, a shorter flange distance will mean the existing lenses will no longer focus correctly. The better option is to utilise the E-620 body by fitting the E-M5 sensor and IBIS assembly if possible, this will give us a new 4/3rds body to utilise the superb lenses already available, the question is, ‘Is there a market left for Olympus in that field?’ there is one for those of us with 4/3rds lenses but I would think a very minimal one for new users.

  • They are making a lot of money on the OM-D. Expect better results next quarter from the camera division. But they really need to delete a lot of those compacts. A lot.

  • flash

    The financial picture, looks good compared to Sony, Panasonic etc. Olympus problems are mostly due to the past, not current issues.

    The EM-5 was released after the fiscal year.

    They do have a glut of compact models on the market. The new compact high zoom seems to sell, I do not think more generic models sells to well, and their is not much profit per model there.

    The camera division needs to make more products for the enthusiasts, not the general or professional market. They seem to have the right number of models in the Pen, and Tough series. Not enough in the OM series, Yet.

  • Olympus have already said they will be scaling back their compacts and focusing on the Tough, PEN and O-MD (lifestyle aspirational cameras) plus a handful of other models.

    Olympus main big problem is that they are not or are unable to offer the same terms, credit lines etc to bricks and mortar retailers (and a few online retailers) as canikon, maybe Olympus should let those retailers know why it is better to sell a mft camera than a canikon camera (maybe more add on sells, higher customer satisfaction, more likely consumer will purchase a 2 or 3rd camera for their partner (wife/girlfriend/husband/boyfriend etc and then additional lenses)

    They also need stronger marketing campaigns in certain markets eg North America

  • MichaelKJ

    Admin.
    This report was released on May 10 and received press coverage at that time. You do a great job and are usually on top of things, so I’m wondering why it took you 18 days to post this story.

    • admin

      Because I didn’t find it on any website I usually follow. Beside that we had a busy rumor time in between. That said, why is it a problem?

      • Fish

        Maybe he feels like he isn’t getting his money’s worth for his monthly subscrition to this new service.

      • tmrgrs

        admin: You ought to have mentioned in this rumor that Sony and Panasonic are also losing money. I’m no genius about these matters but maybe the mirrorless companies are trying to grab marketshare from the entrenched duopoly of C&N and expect to continue taking losses until they achieve some success with that strategy. We all know that a lot of mirrorless cameras are being sold and we also know that they’re less expensive to manufacture than DSLR’s. The Nikon 1 is clearly not part of that strategy if it exists and accordingly is priced higher than the others for what it is. Just a thought.

        • MichaelKJ

          @tmrgrs
          We don’t know if Sony and Panasonic are losing money on their cameras. As you know, they are very large companies with many products. Press reports indicate that the drop in TV prices due to intense competition is a key factor in their losses. The reports I have read haven’t mentioned cameras as a factor.

      • MichaelKJ

        Admin:
        Sorry if I offended you. I’m sure you would agree that the success of your site depends on the timely release of information. Of course, that is much less important for financial info than it is for cameras and lenses. You might want to add sansmirror.com to the sites you follow. While you may not agree with everything Thom Hogan has to say, he does provide timely information about many things, including camera company financial reports.
        Best, Michael

        • admin

          Thom does a wonderful job. But I am more focused on rumors and product releases. He more on reviews and general toughts! He is better than me on that 🙂

          • MichaelKJ

            Fair enough. However, you do make a point of providing links to reviews of new mFT products. Thom has indicated that he is currently working on reviews of several mirrorless cameras, so you might want to keep an eye on his site. 🙂

  • MichaelKJ

    The link below provides a much easier to understand summary of Oly’s annual report for the FY ended March 31, 2012

    http://www.olympus-global.com/en/corc/ir/brief/pdf/n120510aE_n.pdf

    • SteveO

      Thanks for posting, hadn’t looked in awhile. They’ve settled in at 7% of market share compared to 9% in 2009, and continue bleeding red ink. To date mFT has not been their salvation; hopefully Photokina reveals a full-court press in class-leading new products across the board combined with some much-needed press to turn this ship around.

      I did appreciate the corporate hierarchy graphic at the end, though, looks like something Groucho Marx would have come up with :).

      • Raist

        The big question here is what happens next quarter- did the OMD help or not?

  • awaler

    According to a report in Bloombergs, Woodford is settling his suit against Oly for an undisclosed sum. Rumour has 10 Million GBP.
    In a somewhat soft market, Oly stock gained 4% today.

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