This comes as a “no surprise” for everyone here. The Wall Street Journal reports: “Olympus said it will eliminate its V series of compact cameras – the cheapest in its lineup, selling for less than $200. Its camera business posted a loss in the last fiscal year through March, because demand for compact cameras turned out to be weaker than expected, the company said.“. Olympus will focus their resources on the mirrorless system cameras and on high end compact cameras. As I told you a couple of days ago expect a new OMD and a new high end compact fixed lens camera to be announced within the next 3-4 months!

Japan Times also reports about Olympus current financial situation: “Olympus Corp. said Wednesday it returned to the black in fiscal 2012 with a group net profit of ¥8.02 billion, compared with a loss of ¥48.99 billion in the previous year, due partly to an improvement in its medical instrument business. But its imaging business, mainly consisting of digital cameras, logged an operating loss of ¥23.07 billion, posting a third straight year of red ink that weighed on the firm’s earnings. Olympus reported an operating profit of ¥35.08 billion, down 1.2 percent, on sales of ¥743.85 billion, down 12.3 percent. With the market for compact digital cameras rapidly shrinking, Olympus set its sales target for compact cameras at 2.7 million units for the current business year, compared with 5.1 million units in fiscal 2012. It will continue to focus on development and sales of mirrorless cameras, while drastically reducing its lineup of compact cameras. In its medium-term business plan through fiscal 2016, Olympus revised upward its consolidated operating profit projection to a record ¥143 billion from an earlier forecast ¥130 billion, on an expected increase in medical business sales supported by the weakening yen. For the current business year through next March, Olympus expects to post a group net profit of ¥30 billion and a consolidated operating profit of ¥71 billion, on sales of ¥700 billion.”

One more thing: The real challenge for Olympus is their 2-3 year strategy to compete in the high end digital camera market. Full Frame cameras are gettign cheaper and the competition in the mirrorles market is growing…

Like every year…every manufacturer won some kind of price at TIPA awards :) As you know there are so many categories that it is impossible to not win a prize. The Olympus E-PL5 won a price in the best entry level CSC category and Panasonic won the best professional CSC price with the GH3.

I bet that in 2014 Panasonic and Olympus will both win a price again. You wanna bet with me? :)

The E-P5 comments are divided between people who thinks this is an overall nice new camera and people who doesn’t’ believe the E-P5 makes sense in today’s market. I picked up two statements expressing in short two different views on the E-P5:

Thom Hogan: “I was an early E-P1 purchaser and upgraded right up to the eventual OM-D E-M5. An E-P5 would be a step backwards, as far as I’m concerned. I’d also have to assume that the few new features we see in the E-P5 (focus peaking, WiFi, etc.) will make their way to the inevitable OM-D E-M6. So I’m good to go. But would someone buy into the E-P5 instead of an OM-D E-M5? That seems debatable.” (Source: Sansmirror).

Douglas Brown: “Frankly, I went to the preview prepared to dismiss it as a model that should be merged into the EPL series, but came away totally impressed with the build, new functionality, interface changes, and most especially the new EVF.” (Source: Torontowide).

The E-P5 is certainly not going to be a big jump in the MFT history (as it was with the E-P1, GF1, GH2 and E-M5). Yes, the E-P5 isn’t a deal-breaker and yet it has some new nice features. Hard to say yet if this will be a success or failure in terms of market sales. For now the E-P5 superkits remains the hottest option according to Amazon ranking (Click here). The body only preorders are not really high.

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Specs, Price and Preorders:
E-P5 Black at Amazon, Adorama, Samys. In Europe at Amazon Germany, Amazon UK and at Wex UK.
E-P5 White at Amazon, Adorama, Bhphoto and Samys. In Europe at Amazon Germany, Amazon UK and at Wex UK.
E-P5 Silver at Amazon, Adorama, Bhphoto and Samys. In Europe at Amazon Germany, Amazon UK and at Wex UK.
E-P5 Black with 17mm f/1.8 lens and VF-4 at Amazon, Adorama, Bhphoto and Samys. In Europe at Amazon UK.
E-P5 Silver with 17mm f/1.8 lens and VF-4 at Amazon, Adorama, Bhphoto and Samys. In Europe at Amazon UK.
E-P5 White with 17mm f/1.8 lens and VF-4 at Amazon UK.
E-P5 Black with 14-42mm lens at Amazon Germany, Amazon UK and Wex UK.
E-P5 White with 14-42mm lens at Amazon Germany and Amazon UK.
E-P5 Silver with 14-42mm lens at Amazon Germany, Amazon UK and at Wex UK.
17mm f/1.8 Black at Adorama, Bhphoto and Samys.
45mm f/1.8 Black at Adorama, Bhphoto and Samys. In Europe at Amazon Germany.
75mm f/1.8 Black at Adorama, Bhphoto and Samys.
VF-4 viewfinder at Adorama, Bhphoto and Samys.