There is one bad news and two good news. First the bad news 🙂
1) The latest Olympus financial report (Click here to download the full .pdf) unveils that they are on course to make a 32 billion yen (£260m or $410m) loss for the year to 31 March 2012, as it reels from a £1.1 billion accounting cover-up (via Amateur Photographer). In the same period in 2011 they had a 756 million yen loss, in 2010 they had a 2.04-billion yen profit. This is really bad news but I guess soon a big company (Sony or Samsung or Fuji) will arrive with fresh money in order to solve the current financial troubles.
2) But there is also a good news: Olympus reported a 14.7% rise in digital camera sales over the nine months, reaching 94,557 million yen (£771m or $1216m) at 31 December 2011 (via Amateur Photographer). The operating loss fell by 50%. In summary, Olympus isn’t still making money with their camera division but they are now growing and Olympus predicts that results will be even better thanks to the third good news:
3) Looking to the future, Olympus pointed to the release of its OM-D E-M5 in late March, adding: “Several new compact models are scheduled for successive launches from spring, using same image processing technologies as micro SLRs [sic] for high sensitivity, low noise and fast autofocus.” (via AP)
UPDATE: A month ago a trusted sources told me that the [shoplink 19904]Olympus XZ-1[/shoplink] successor will arrive in early summer.
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Watch the Amazon rankings (Olympus is doing well!):
Amazon ranking in USA (Click here)
Amazon ranking in UK (Click here)
Amazon ranking in Germany (Click here)
Amazon ranking in France (Click here)
39 Responses
Ohhh No…I mean Yes?!
Olympus expects to earn an OPERATING PROFIT (which gives better guidance for the future) – calculated before the write-offs and tax adjustment of Y360bn. That would be down just 6 per cent in a year when many Japanese technology companies are projecting much larger declines, owing to the strength of the yen and supply disruptions from natural disasters.
“I think it’s a possibility,” Olympus President Shuichi Takayama told reporters, when asked if it was an option to not receive a capital injection and instead move ahead independently by accumulating profit.Sony are seen as too aggressive and Fuji might run into anti-trust problems.
The endoscope business has not been affected by the financial affair, Olympus estimates that it will post a 22 per cent rise in operating profit for the fourth quarter to the end of March. and the future is looking very rosy at the imaging business (Olympus’s total Imaging System Business sales increased by 16.5%).
“Woodford is expected to apologise at the shareholder meeting on the 20th April.”YouDidntDidYou
“Woodford is expected to apologise at the shareholder meeting on the 20th April.”
For outing the fact that the company’s officers had been filing bogus financials for three decades?
“Gee, I apologize for letting my chin get in the way of your fist…”
…it’s true I read it in the script of his forthcoming Hollywood movie (it will have subtitles for those that worked for a Japanese company for 30 years and couldn’t be bothered to learn the language).
Working for a Jap company does not mean you should learn the lingo… he was the Europe guy…
Thats like saying if you work for Mercedes you have to speak German?
Mr.Woodford seller books and maybe also will seller script to Hollywood, but all advertising is good advertising, so this is the Olympus need for be great in west. 😉
Just announced: John Malkovich and Ken Watanabe have signed to play James Woodford and “the yakuza” respectively in an Oliver Stone movie titled ‘Stashed Away – An Accountant’s Tale.’ Dame Helen Mirren is in talks as Michael Woodford’s distraught wife, while Oscar winner Linda Hunt is reportedly being eyed for the part of chairman Kikukawa.
lol
Hope I did’nt brake any knuckles!
I think the range is being renewed because the 12MP Panasonic sensor is being discontinued. There is already a rumour that the GF3 is going to be discontinued and by the end of the year the sensor introduced in the G3 will be the bottom of the range sensor.
It sounds to me like they are refering to compact cameras, not m43.
Uhm… point 3 doesn’t actually say that there will be new m43 cameras, just compact cameras that use the same technology. Probably just P&S compacts.
Are you sure it’s new micro-4/3 cameras? The quote to me sounds more like they were planning to release some new compact cameras and borrow some of the stuff they’ve developed for micro-4/3 cameras to speed up AF, etc.
Compact models? Could be also point and shoot cameras.
Yep. Sorry. Doens’t sound like they are talking about m43 cameras…
@ admin
can we have the who’s online widget back please, I think it’s safe to do so now 😉
These look like the sucessor to the XZ-1
The XZ has a upgrade due this year and that is one area Oly has a good foothold.
With the better processor and focus they can beat the Canon S100 hands down with the 1.8 lens.
An XZ-2 with no aliasing or moire in video would be a great start! Canon have them beat hands down with video. Not sure what else you’d need to improve really – extra speed all-round is always appreciated though.
Would be good to see Oly focus their line-up though: 2/3″ sensors in a tough cam and an XZ model, 2 PEN models and the E-M5. Nikon and Canon (Sony more and more) have the P&S market wrapped up really, so why compete in a low-margin sector?
On a complete tangent, Sigma should produce a 10MP (native 12×9″ prints) 4/3s sensor for their SD line – that would plug one hell of a hole! They certainly need to stop crippling their Foveon division through fear of lens cannibalisation.
Sigma + (M)FT could be a match made in heaven with Olympus. Not sure what Sigma is trying to protect… or maybe the sensor was too pricey until the Nikon D800 was announced. After D800 announcement, like an 2/3 drop in their camera pricing + “bonus” products for their early adopters (http://www.dpreview.com/news/2012/02/08/Sigma_SD1_Merrill_price_drop). I think Sigma priced themselves out of the market, and is now trying to get into the market before it’s too late.
Now that the Nikon D800/Sony sensor is here, and the Fuji XPro1 (no antialiasing) sensor is here, Sigma/Foveon sensor technology is losing strategic advantage. Who knows if they can leverage what’s left of their opportunity, but it sounds like Oly has already found a new sensor partner for the time being.
I’m thinking straight up 4/3s though, Olympus have promised future support et al but right now there are a lot of people looking for a body upgrade path and a Foveon SD would be a welcome upgrade from an E-5/30.
Sigma would have the market almost entirely to themselves alas… they compete directly with Nikon and Canon, doh. Hasn’t happened because they want Foveon to push their lenses, joke.
Other plus points to 4/3s: deep depth of field that shows off Foveon’s strengths – also allows use of fast lenses for exposure and smaller sensor = cheaper sensor, something that Sigma are struggling with!
Have you ever seen Foveon sensor camera being applauded for good sensitivity?
No, because even light wasting bayer CFA sensors are doing better job and one thing what 4/3 sensor size definitely can’t afford is ever lower sensitivity sensor!
Just something sounding fashionable doesn’t mean it’s any good idea!
It’s this three sensor system (like in video cams) into one package tech which should be aimed for if you want full RGB pixels:
http://www.43rumors.com/foveon-like-sensor-patent-from-panasonic-flash-sync-patent-from-olympus/
Some of us don’t need high ISO performance and some would be willing to sacrifice it for immaculate 50-200 ISO shots.
Foveon is never going to be the best all-round sensor (especially when it only has Sigma to advance it) but it does produce untouchable results given the right scenario!
I don’t see what’s wrong with suggesting a 4/3s SD model catering to the many photographers out there with pro ZUIKO glass? Given that neither Panasonic nor Olympus are competing in this space I think it’s 100x more viable than Sigma’s current approach… no?
Sony is estimating a $2.9 billion net loss this year — making four down years in a row — and has just been downgraded by Moody’s, so I’m not sure they’re going to be galloping to Olympus’ rescue any time soon…
I think Sony’s top management sees acquiring a part of Oly, especially its medical division, as a way of becoming profitable. Despite Sony’s losses, its most recent balance sheet shows Sony has $2.2 billion in cash and $7.8 billion in marketable securities.
@ Admin: The last line of the UPDATE is probably missing “the successor to the”.
Thanks Bruno. As usual, I am completely unable to write articles on my iPhone 🙂
When they are already in the pattern of stealing from themselves:
They could revive the XA as a XA-D or something.
LOL, a X-100 kills. 😉
On the contrary:
Olympus chief: may choose not to boost capital
http://www.reuters.com/article/2012/02/13/olympus-capital-idUST9E8CP01U20120213?type=companyNews
Olympus might not need any capital boost from Terumo, Samsung, Pansonic, Fujifilm or Sony!
I just ordered an e-p3 today. I hope it Is a current model for more than the next 4 weeks
On the financials story, isn’t it just a paper loss ?
That is, the recent “scandal” was all about the fact that over the past years (decade?) Olympus had been hiding losses. Now they have had to put those losses on the books in one hit.
But it’s just numbers on a page. In terms of cash flowing in and out of the business, things are still looking good, all things considered (not least the state of the competition and the world economy as a whole).
On the compact camera front… given the “revival” of the OM legacy in the form of an OM-D, maybe we could/should expect to see a similar revival of the TRIP legacy.
Olympus Trip-D – has a certain ring to it.
You heard it here first. (I have no source, just spit-balling). 🙂
I wonder if they are going to be releasing a m4/3 based around the OM-D E-M5 but a more consumer friendly. I don’t think I need all the weather sealing, magnesium alloy, the grip support, or even the built in EVF . . . but the flip screen (and even touch for focus), and lots of buttons and dials that are programmable look fantastic.
I wonder what the E-P5, E-PL5, and E-PM2 will bring . . . I like my E-PL2 but really miss my flip screen and quick settings changes with a dial of my old camera.
If I want P&S I will get one of these.
http://www.amazon.com/Canon-PowerShot-Stabilized-Wide-Angle-3-2-Inch/dp/B0075SUJ4W/ref=wl_it_dp_o_npd?ie=UTF8&coliid=I197YBIB2IOX5C&colid=1YIV7LSDPHEOW
I think this new camera will be the swan song of Olympus,
I mean just before another firm buy the photo department.
I hope the new team will make better choices about their products… actually I dislike the Olympus products, they’re too much oriented for consumers, in order to sell a lot, that’s why they’re so bad (even if I love my E-P2, I think it is the less worse of their M43 cameras).
If the XZ-2 has decent video, I might sell my E-PM1 and get a XZ-2 and a E-M5.
You hearing this Olympus. Fix your video standards. Please.
As I see the lineup.
XZ-2
We need a fixed lens XA-D 35/2.0 (m43). Sigma and Ricoh owns this niche.
Revive the mju (m43) give it collapsable 28-105eqv 2.8-4.5 weathersealed.
Forget bridge cameras
Two m43 bodies E-P4 with tilt screen and E-Pmini
OM-D line
two 43 bodies E-7 preferably smaller E-30 size weathersealed and E650
There is a big difference between wishful dreams and brutal reality.
Wishful dreams ]- that Olympus m43 will succeed for years to come
Brutal Reality]- Olympus will abandon its users yet again.
Looking forward to an upgrade to the XZ-1. Glad to hear about the upgrade. I’m not expecting the E-7 any time soon, Olympus doesn’t rush out cameras like companies. Take note, the time from the E-3 to the E-5 was much shorter than the time in between the E-1 to the E-3.
No idea why people expect a new pro camera every year. I understand people like the newest and the best, but that’s not reasonable.
I know the third generation of PENs was extremely worthy upgrade, but I’m glad that my EPL1 is as good as it is so that I can be picking up the E-M5 when it’s available.