News flash: The company decided to adopt a definitely pro-active approach to the problem with the beheading of the top management and the replacement of most of the direction team. The new President will be Hiroyuki Sasa and a new Chairman has been chosen: Yasuyuki Kimoto. No less than 11 new directors have been named!

Observers will interpret this as the clear will to break free from the past and the decision of stock holders to force the company to spend more energy on its own development than into the defense of its former management. Assuredly, this is a strategic decision in favor of pursuing more forward-thinking activities, but it may also be a move to separate themselves from a former management tied to too many risks for Olympus itself. Whatever it may be, this is pretty good news for the Customers and for the future of Olympus.

Let’s hope for the photo business that this will not shake the company down while it is trying to bring interesting innovations to the customers.

PS: It seems that the apparent suicide of the managing director of Olympus India is not related to this same issue.

Olympus OM-D

Don’t let the photo mislead you, this is not a good old APS-C digital SLR camera. On the contrary, this is a surprising little camera taking its inspiration from many books and many different worlds.

• The Olympus OM-D goes back to the small size of the 1980′s Olympus OM (relative, but small for this era). but it is not compatible with the old (and fair) OM range of lenses.
• It is sensitive: ISO 200-25600 on a 16.9 MP imaging sensor
• This is a PEN camera (with a micro-4/3 digital sensor, which is slightly smaller than the more traditional APS-C form factor)
• This camera is quick and snappy: 60 – 1/4000 sec and up to 9 frames/sec
• It is weather-sealed and quite rugged.

There are only two flies in the ointment: Will the financial wealth of Olympus cast a dark shadow on the camera? And won’t the 1100€ price tag (for the EM5 model shown) be too high?

I know that photo caemras seem to be always more expensive, but a little gem like this one will be leaving a dark stain on the checkbook stub and the credit card invoice slip…

Olympus OM-D

Press Release

Olympus Imaging has today launched the much anticipated new OM-D (OM Digital Compact System Camera) series, with the announcement of its inaugural E-M5 model. Featuring an integrated 1.44 megapixel electronic viewfinder and 16 megapixel LiveMOS image sensor, it is the world’s fastest auto-focusing camera and is equipped with the world’s first five-axis image stabiliser integrated into its weather-proof alloy body.

The OM-D series heralds a new technological epoch in interchangeable lens digital cameras, as conventional digital SLR camera designs come to an evolutionary end in user experience and portability. With its high-resolution electronic viewfinder (EVF) and real-time digital interface, the Olympus E-M5 immerses the photographer fully into the creative process through a genuine WYSIWYG experience. Exposure, colour and filter effects are seen live, not after the picture has been taken.

Using FAST-AF (Frequency Accelerated Sensor Technology Auto Focus), that combines the high drive speed of the new LiveMos sensor, the latest MSC (Movie & Stills Compatible) lens technology, and a very short release lag, the E-M5 is the world’s fastest* autofocusing camera. 3D subject tracking is a new feature in continuous AF mode for enhanced focusing accuracy of moving subjects.

Olympus has also developed world’s first five-axis image stabilisation (IS) system. In addition to the standard two-axis camera pitch/yaw movement detection and compensation, the system in the E-M5 is also capable of detecting vertical and horizontal translational movement, and roll along the lens axis. IS compensation is effective up to a maximum of -5 EV. With a newly designed mechanism for shifting the sensor, the effects of IS can be seen live through the electronic viewfinder in both still shooting and recording video.

For maximum convenience, an eye-level sensor automatically switches Live View between the rear OLED touch-sensitive screen and the EVF when the camera is lifted to eye-level for shooting. This new tilting 3″ OLED capacitative touch-screen enables tap-shooting with focus point selection, and image playback control.

The new 16 megapixel LiveMOS sensor with a maximum 240fps frame rate captures broadcast quality Full HD video. A newly designed video processing algorithm provides superb video quality with significantly reduced aliasing. Undesirable rolling-shutter effects are now reduced to negligible levels.

Designed as a creative tool that you can take with you everywhere, even in inclement conditions, the E-M5 is both splash and dustproof**, and features a light yet robust magnesium alloy chassis.

Other Features

• New EVF Creative Control function provides live interactive highlight and shadow adjustment and white balance control
• Ergonomic twin input control dials
• Bundled with clip-on FL-LM2 weatherproof flash
• Wireless flash control (when the bundled FL-LM2 or the new FL-600R strobe unit, is attached)
• Shutter speed range 60-1/4000th seconds including Bulb
• 120fps maximum EVF display rate in still shooting with 29ms display lag enables sequential shooting display with minimal viewfinder delay (default frame rate is 60fps, adjustable to 120fps). Video refresh during video recording is as fast as 240fps, reducing the rolling shutter effect entirely.
• New Li-ion battery BLN-1 and new charger BCN-1

*As of Feb 2012 based on Olympus in-house tests; when the M.Zuiko Digital 12-50mm lens is used

**Camera becomes fully environment-proof when used with the M.Zuiko Digital 12-50mm lens

NEW SYSTEM ACCESSORIES

HLD-6 battery grip kit

HLD-6 kit comprise of HLD-G and HLD-P. It provides for both vertical and horizontal camera holding, or just vertical if the top half (HLD-G) is used without the battery pack grip (HLD-P). A total of two BLN-1 batteries – one in the camera body, one in the grip can be used together. Features weather-sealing.

FL-600R Flash Strobe

The new FL-600R flash strobe has a maximum guide number of 50 (ISO200) and can work either as a wireless commander or slave strobe with both E-M5 and PEN models. The flash head tilts down 7 degrees and up 90 degrees, with 180 degrees rotation on either side. It uses 4 AA batteries for fast recycling, has a built-in wide diffuser panel for a 16mm equivalent coverage, and a small pull-out reflector plate to create catch-lights in portraits. For video recording, it has a built-in 1W LED.

Underwater Case PT-E08

Works to a depth of 45 meters. This new housing uses a waterproof lens port that is bayonet-mounted and replaceable. The standard underwater lens port accepts the M.ZUIKO DIGITAL 14-42mm f3.5-5.6 II, M.ZUIKO DIGITAL 14-42mm f3.5-5.6 IIR and M.ZUIKO DIGITAL ED 9-18mm f4.0-5.6 lenses. When an optional port adapter is used, an underwater lens port compliant with the Four Thirds System standard can be attached on it. This design is expected to make the two lenses, the ZUIKO DIGITAL ED 8mm f3.5 Fisheye and ZUIKO DIGITAL ED 50mm f2.0 Macro, usable with the underwater case.

As the FL-LM2 flash provided as standard with the OLYMPUS OM-D incorporates the wireless flash control function, it can also control the UFL-2 Underwater Flash.

TECHNOLOGY ADDENDUM

1. High-performance Electronic Viewfinder with Creative Control interface

• Bright and Clear from edge to edge
• Large exit pupil to keep nice visibility even when eye position is shifted
• 100% field of view
• Maximum magnification ratio: x1.15
• Eyepoint: 18 mm
• Dioptre adjustment: -4 to +2m-1
• Optional large eye cup

The E-M5′s integrated electronic viewfinder with 1.44 megapixel resolution not only provides an extremely clear view courtesy of Olympus high-performance all-aspherical viewfinder optics, it provides real-time feedback of exposure and settings with a WYSIWYG experience in picture making and movie recording. Elements of the new Creative Control interface can be superimposed onto the live picture to assist intuitive interactivity. An example shown below is the new highlight and shadow curve adjustment feature.

Aspects of Creative Control visible through the EVF include: Highlight-Shadow, White Balance, Picture Aspect and View Magnification

2. World’s first 5 axis image-stabilisation

Current 2-Axis Image Stabilization New 5-Axis Image Stabilization

Most contemporary IS systems whether integrated into camera body or lens-based are only able to detect movements in a 2-axis orientation – pitch and yaw. A world’s first 5-axis system has been developed for the OM-D series that provides comprehensive stabilisation for almost all forms of camera shake possible including horizontal and vertical translational movements, as well as roll movement around the lens axis. Overall IS performance is significantly better than two or three axis IS systems. This new stabilisation system is capable of up to -5 EV of image stabilisation. Handheld macro photography is a big beneficiary of this new IS system, as would long-lens or low-light shooting situations.

This new MSC (Movie & Still Compatible) IS unit incorporates Olympus’ pioneering SSWF (Supersonic Wave Filter) dust reduction system for dust-free photography. A new IS drive mechanism enables the effect of stabilisation to be viewed in real-time through the EVF. Like all Olympus PEN and DSLR cameras with built-in IS, image stabilisation can even be extended to OM legacy lenses that are non-electronically coupled, via manual focal length input.

3. Advantages of Contrast Detection Vs Conventional SLR Phase Detection in low-light AF performance

Contrary to popular belief, conventional phase detection (PD) AF systems found in the majority of available DSLRs are actually technology limited in low-light focusing situations and hence provide much lower AF performance even if a large aperture lens (e.g., f1.4) is used, when compared to contrast (CD) AF type systems. Most conventional phase detection systems can only make use of light flux equivalent to f5.6 or 10 degrees by default, even when a taking lens of larger than f5.6 aperture is used. This weakness is inherent in the actual working principle of most PD AF systems in use today as shown in the diagram below.

Contrast Detect AF systems on the other hand benefit make full use of the corresponding increase in the amount of light with larger aperture lenses for better AF accuracy in low-light photographic situations.

4. Dust and Splash-proof alloy body

The E-M5 body uses a comprehensive weather-proofing system. When used with the M.Zuiko Digital 12-50mm lens which is also dust and splashproof, the camera system is fully sealed against the elements. The accessory FL-LM2 flash, as well as the HLD-6 battery grip kit are also weather-sealed.

For maximum chassis strength, a special high-precision casting process akin to injection moulding is used to create the rugged magnesium alloy chassis that protects the sophisticated electronics and mechanics.

1. colorful cameras
2. retro-styled cameras that try not to look old

Two recent examples: A white Nikon V1 and a retro-styled Samsung NX-200 RS (with only a metalized plastic top to distance itself from the usual all-black livery).

Nikon 1 V1 blanc

Samsung - before/after

They did not reach very far, though. There still some before we can draw on the surface of the camera like with our mobile phones…

While waiting for this dream future, we still have to be patient until we see the next camera from Olympus which (according to PhotoRumors) could well look a lot like an Olympus OM SLR camera from old times.

Olympus OM Digital

Funny, but until there is some clarification of the financial status of the Olympus mother company, I will sit and look from some distance, with a tender smile on my face.

It is now nearly certain that this camera will be named OM-D (to draw from the excellent fame of the analog SLR cameras of the 80′s) or OM-Digital and this was publicly confirmed by the publication of a full-page ad in Amateur Photographer magazine (under the big title of “OH MY GOODNESS!”) and it would be the announcement that Olympus people have long been touting in the tune of “here comes the Pro Pen!” to give a big cousin to the PEN hybrid camera of the same brand.

Olympus OM-1, by Abilene (repair shop)

Furthermore, Olympus has widely suggested that the camera would be shown to the press on February 8th (very soon) and could be available in March 2012.

Up to this point, the information is nearly certain but there are also rumors that require confirmation.

Let’s start with the pictures of the camera where we are told that they are an OM-D mock-up from Olympus: Several web sites tried to take advantage of the situation by showing us nice 3D renderings built from the available (lack of) information (Tecnofotografia and Livedoor). But it is almost certain that none of those is coming from Olympus 3D files. We only have very partial close-ups (probably distributed by Olympus itself through 43rumors in order to keep the buzz up).

However, thanks to a post from Wells Fargo Advisors, we are nearly sure of some key items:

• A frame very similar to the old OM-1 (but smaller), without a mirror but with interchangeable lenses,
• 16 MP digital sensor,
• Fast AF system (it should be a strong feature of this camera),
• Price: 100.000 yens in Japan or US$1.100 in the USA or 1.000 Euros in Europe

Olympus OM-D

After that, we are entering the realm of more or less wild speculations.

• Magnesium alloy body (like for pro D-SLR),
• Sensor stabilization,
• Sensitivity: ISO 100-25600,
• Dust- and weather-proof body and lenses (like for Pentax),
• Electronic View finder (EVF) trying to fake a good optical view finder (quality?),
• Built-in flash,
• Autofocus system based upon 3D tracking (as for Nikon),
• Black and white/silver versions, with leather-style covering.

So, if some of these will certainly be proven more rumors and wishes than reality (and I would think the combination would look very good even at the very high price shown above), I keep some skepticism. Is it a good idea to invest our hard-earned money in products from a company whose financial future is so uncertain? However, we must praise Olympus for working hard to draw the attention to cameras which could be able to defend the brand future. Long live the OM-1 and -maybe- the OM-D.

Abilene Camera specialize in Mail Order Camera Repair and Restoration of Classic manual focus 35mm SLRs dating from 1960 to 1990.

Now that smoke and dust are settling down we can see more clearly (it produced a small hike up in the stock prices and we heard that the rumors of mafia crime implication are no longer credible). The financial status stays very difficult, at best. All the analysts are agreeing on the prediction of a capital raise to bring some new cash (though it will certainly get the previous owners and the current management expelled).

But the conditions are ill chosen. Specifically, Olympus has a tough choice to make:

1. either they wait for the troubles to fade out, and the company will run out of cash; They will have to sell parts, the photo division now becomes “the crown’s jewels” to be auctioned off, if it happens soon.
2. or they try to quickly raise new funds on the market [1], and the management will be quickly shown the exit door by the new owners.

In this last case, the big question is “Who would want of that?” The names most commonly heard are:

• Sony: They have enough free cash, but what would they look for in such a mess, except a fast investment with an even faster cash out?
• Fujifilm: They are already present on very similar markets (Medical Imaging and Photography) but they may loose even their shirt and their boots at this table. According to Reuters, they did not decide yet.
• Panasonic: could be interested in grabbing some patents, some designers and the means to reboot its own photo camera business.

So, we will have to stay alert for news in this beginning of the year to know how Olympus will end: Eaten by a raider or lightened by a severe diet?

As a matter of fact, we are witnesses to an almost unbelievable financial chronicle on a background of fraud, creative accounting (of the kind that leads company Officers to jails) and possible links to organized crime. Would you believe it? Of course, we must be aware that there may be some unfounded data here, but a few facts are now official.

The story starts back in 1998 when the Japanese finance world was rocked by rumors of huge losses at Olympus. Then, everything went back to normal after some strong comments from Olympus management… Up to when the ex-Executive Officer of Olympus UK, Michael Woodford, started talking and singing to the whistle-blowing tune. At first quite skeptical, we heard that the mother company was several years in trying to hide huge losses from the end of the ’90s through financial practices less than legally sound.

Olympus would have lost enormous amounts of money in the ’80s and ’90s in unsafe short-term investments. This did not look too unusual, even for an industrial company. But it starts getting weird when we hear that the company would have been trying to hide these losses (probably around 700 million US dollars, according to official declarations; But it is said that there are about 5 billion US dollars missing in the balance sheet) by investing in young and fast-growing companies. As a matter of fact, it would have been -only- a way to write off quick huge losses rather than any other thing. So, it amounts to a colossal accounting fraud, maybe hidden behind the cooperation of some financial institutions.

The fact that this is an accounting technique so well-known that it has a Japanese name (“zaitech“) does not seem enough to exonerate lies on a long period of time. Olympus is risking a de-listing from Stock Exchange markets. Its managers could be confronted to the judge. In Japan, in the US or in the UK. It has also been said that this scandal also includes connections to organized crime (far worse than a league of shabby finance directors) which would have been recruited (and paid) to help build the fraud.

The stock fell through the ground (see above). The situation is serious enough that the company may be crushed and could simply disappear (after a quick de-listing).

The consequence could be dramatic for the photo camera brand. Even if photo activities could be sold by the manufacturer of endoscopic and medical equipment, the current situation of the camera division is not very favorable and there is a significant risk that nobody would buy it if this drags on for too long.

For several months, I have been predicting the possible disappearance of one or more photo brands from the D-SLR market. I often said that I saw Sigma as the most likely candidate because of its hesitant and inconsistent strategy here. But Olympus could overtake them in this dramatic race to the crash-test wall. Let’s meet again before the end of 2011 for more. It would leave only memories of marvelous cameras which reached semi-mythical status.

Nevertheless, in front of this fast-moving news landscape, we should not under-estimate the action of individual egos of the managers and ex-managers: Michael Woodford is leading a campaign to be called back at the head of Olympus as a savior.

Olympus OM-1

Sources:

• New York Times
• Bloomberg
• New York Times

The most recent release of Capture One (version 6.3) now supports the new RAW files grnerated by the most recent Sony products using the huge 24 MP sensor:

• Sony Alpha 77
• Sony Alpha 65
• Sony NEX-7
• Sony NEX-5n

We should also list the support for the most recent Olympus:

• Olympus E-P3
• Olympus E-PL3

Olympus_E-PL1s

Olympus launches a new hybrid photo camera, the E-PL1s. But, this is certainly not a major announcement:

• It’s an evolution of the Olympus E-PL1 bringing the ISO 6400 ability
• You will find it in Japan only
• It stays the samllest EVIL/Hybrid camera in the world right now

Tow lens kits will be available with the following:

• M.ZUIKO DIGITAL 14-42mm F3.5-5 .6 II
• M.ZUIKO DIGITAL 14-42mm F3.5-5 .6 II and M.ZUIKO 40-150mm F3-5.6

Olympus BioScapes 2010 Winners Gallery