Olympus announces intent to sell imaging business to JIP

[pake]

The more I think about it, the more this seems like a rough translation. I think it means the successor as the owner of reputable brands.

I don't think the Olympus name is going anywhere (unless this company fails in the long run) Olympus Imaging is just no longer owned by Olympus Corporation. I think they'll still be branded as Olympus.

Well... That happened to Nokia phones too. Nokia (the company that made the cameras) sold the their camera brand Nokia to Microsoft and kept using the company name in other business areas while MS sold Nokia phones that basically had nothing to do with the company called Nokia. Hopefully this will be the route Olympus takes too.

 

[Angus Gibbins]

Well... That happened to Nokia phones too. Nokia (the company that made the cameras) sold the their camera brand "Nokia" to Microsoft and kept using the company name in other business areas while MS sold Nokia phones that basically had nothing to do with the company called Nokia. Hopefully this will be the route Olympus takes too.

Nokia phones are now manufactured by HMD Global (I've owned 3).

Look at how many brands General Motors own.

 

[ThereAndBackAgain]

Why would you? Would you sell your lawnmower if the manufacturer changed ownership?

No, I wouldn't. But I don't get firmware updates on my lawnmower and if anything goes wrong with it I can fix it myself.

 

[RS86]

Very sad, after 84 years. I really like Olympus products. I would have hoped they sell to some other camera brand to continue the format. Now I'm not sure what these investors have planned, could they just sell everything like patents etc.?

For me it doesn't make much difference, eventhough it's not a good thing either. At least at this point it is tough to see it like that with so much uncertainty. I have all the lenses I need and wouldn't have upgraded camera in 4 years time anyway. After that I still have an upgrade path currently and of course we don't know what JIP will do and Panasonic is still there.

For me it is almost a perfect system so I will keep using it for a long time no matter what happens.

 

[Jeroen81]

It'll take a year or two (or even more) to see whether there will be new development or not. Long time to just wait and see. I will also buy the 100-400mm if the quality/price-ratio is good enough and will not stop spending money on products I feel my photography needs.

I don't buy cars and wish they keep their value so I could sell them later. Same goes for camera gear. If you want things to keep their value, buy arts or something.

Same here. For me camera body's aren't an investment. But lenses are. Before a system is officially dead I would like to sell.

 

[pake]

For me it is almost a perfect system so I will keep using it for a long time no matter what happens.

Exactly! I'm all set for at least the next 5 years. A lot can happen during that time. Will e.g. Nikon still be there in 5 years? Who knows.

 

[BrianLa]

Many years ago I did a lot of research and ended up buying a Miranda dx3 instead of Olympus Om-1. I did this based on the pro level accessories and lenses that were promised. Two weeks after I collected my new camera the Miranda company was closed down. I still used that camera for the next ten years.
The ownership of Olympus may be changing but the the camera group will still exist. I see less chance of third party lenses but we still have the existing catalogue which is decent and there`s always Panasonic.
When I take my camera outside, this afternoon, it`ll still take perfectly good pictures. It`ll probably outlast me! Don`t stress.
Brian

 

[John King]

My E-30 still works well, 12 years after I bought it. Used as my main camera for nearly 8 years.

My E-M1 MkI and MkII are practically new. In all probability, I will be dead before they stop working.

 

[RS86]

So is it now the most likely scenario that JIP will do what I thought Olympus & Panasonic would rather than sell?

Meaning JIP will keep the camera division going, but streamline it very much, so that the losses are gone. Close things down that are making the losses, maybe like in South Korea and similar stuff. Keep selling existing products and develop some new ones, but not nearly as much as earlier?

I really don't like the other option, and them investing more is hard to see. The other options was above, them selling the assets, although that doesn't make much sense?

 

[cyrax83]

Guys, this is the same company that bought Vaio and sold off all it's assets - that's what they do. I would really think about jumping or moving systems if you were keen.

But in saying that, the gear you have still works... I just wouldn't expect much more from the m43 system anymore.

 

[Robstar1963]

Looks like the rumours about staff at Olympus Corp starting to look for jobs elsewhere from a few months ago were true then !

 

[RS86]

Guys, this is the same company that bought Vaio and sold off all it's assets - that's what they do. I would really think about jumping or moving systems if you were keen.

Do you have more information on that? From what I see they still make laptops after 6 years, so you say they sold the assets and still make products? How does that work?

 

[Robstar1963]

The one thing that I hope for is that the enthusiasm here for Olympus and M43 in general is maintained.
I’m sure we will now lose some members but I’m also sure we will keep a high proportion of those that really love and appreciate the system who will keep this wonderful forum going for the foreseeable future ?

 

[RS86]

This is a bit weird statement from Olympus, and for sure I cannot trust their messages much. But this hints that they have some guarantees and plans that JIP won't just sell the assets. It seems they haven't done that with VAIO either.

"During the ongoing discussions, Imaging will continue business as usual. Sales, service and marketing departments will continue to work hard to support customers passionate about photography with great products and services.

We believe this is the right step to preserve the legacy of the brand, the value of the technologies and the outstanding products. Olympus sees this transfer as an opportunity to enable its Imaging business to continue providing value to longtime and new customers, fans and photography enthusiasts."

https://www.olympus-global.com/news/2020/nr01695.html

 

[Robstar1963]

Hence also why Olympus posted a notice on 17/06/20 postponing the announcement of fiscal forecasts for year ending 31/03/2021 - obviously this latest announcement was already in the pipeline

 

[Macroramphosis]

I am sure JIP will take the brand and push it forward, ultimately to make a profit - that's what the intention behind purchases like this are typically aimed at. Along the way I would think nothing will change at Olympus HQ. Same staff n the main (the important ones like designers, anyway), same timelines, same targets etc etc. If it does go tits up that's years down the line...

It may well be that ultimately the brand will dumb down a little to generate sales in the Asian market, that would be my worry - no big push to develop equipment for the very top of the market.

 

[Robstar1963]

Unfortunately it may well be the case that the COVID 19 outbreak was the last straw for the company just when there were signs of a meaningful recovery and move towards break even / profit after the significant restructuring efforts over recent years
COVID 19 must have been like one gigantic kick in the teeth for Olympus after their efforts
We are still in the early days of the longer lasting effects of COVID 19 and I don’t think we have even scratched the surface yet of the longer term effects
If Olympus survives in some form then we will need to be thankful as many many companies will have no such option ?

 

[Amin]

I hope that JIP will announce their intentions for Micro 4/3 soon.

 

[stratokaster]

I hope to be proven wrong but I wouldn't expect anything great from a company run by a private equity fund.

 

[retiredfromlife]

I think this was being planned for a long while, probably decided last year when the rumor last surfaced.
To me Olympus were getting ready for the sale, shifting factories, latest cameras using all their old tech and inventory. I have worked for a few companies now that have gone under and followed similar paths.

Of course I know none of the facts, pure guessing on my behalf and probably wrong as usual.
I just hope they survive in some form, but I worry about service now that they will be split off from the parent company.

Since I have recently purchased the EM1.3 I certainly hope they survive. I purchased the EM1.3 after I saw they were releasing the 100-400 since I did not want to continue with Panasonic.

Could never pick a horse either, so I am probablly wrong in my assumptions here as well.