Olympus update

Discussion in 'Micro 4/3 News and Rumors' started by slappy, Dec 18, 2013.

  1. slappy

    slappy Mu-43 Regular

    Jan 14, 2013
    Guildford, Surrey, UK
    from Bloomberg
    Wire: Bloomberg News (BN) Date: Dec 18 2013 15:01:10
    Olympus Expects Camera Unit to Return to Profit Next Fiscal Year

    By Kanoko Matsuyama and Takashi Amano
    Dec. 19 (Bloomberg) -- Olympus Corp. forecast a return to
    profit for its camera unit next fiscal year as sales of
    mirrorless models increase.
    Annual sales of mirrorless models will rise to 1 million
    units as early as in the year starting April, reaching 5 percent
    share of the global market, Chief Executive Officer Hiroyuki
    Sasa said in an interview in Tokyo yesterday. Achieving that
    level of sales will bring about 7 billion yen ($68 million) in
    operating profit, he said.
    Olympus, which has posted two consecutive quarters of
    losses, is counting on high-end mirrorless digital cameras to
    make up for the earning shortfalls from compact ones amid
    surging demand of smartphone sales such as Apple Inc.’s iPhone.
    The Tokyo-based company aims for its mirrorless models to
    compete with single-lens reflux cameras by Canon Inc. and Nikon
    Corp., the world’s biggest camera makers.
    “What mirrorless cameras can do has become toe-to-toe with
    cameras with mirrorbox,” Sasa said. “Ours are lighter, smaller
    and made with less parts, so we can do better with prices.”
    Mirrorless models have sensors that send image data
    directly to the camera’s LCD screen, eliminating the need for
    mirrors, prisms and an optical viewfinder. Olympus has said it
    expects to sell 660,000 units of mirrorless cameras in the year
    ending March.
    With the camera industry’s revenue falling to the lowest
    level in a decade, amid surging smartphone sales, Nikon has cut
    prices to lure consumers. The single-lens reflex camera market
    was 20 million units globally last year, according to data by
    Camera & Imaging Products Association.
    Olympus’s camera unit accounted for about 14 percent of the
    company’s total revenue last year and reported an operating loss
    of 2.7 billion yen in the six months ended Sept. 30.

    Using Innovations

    The company needs to stay in the camera business so it can
    also use the innovations for its health-care business, Sasa
    said. There’s no reason for Olympus to exit the market, he said.
    Shares of Olympus rose 2 percent to 3,260 yen in Tokyo
    yesterday. The stock has almost doubled this year, while the
    benchmark Topix Index has risen 45 percent.
    Olympus, also the world’s biggest maker of endoscopes, in
    November cut its net income forecast for year ending March to 13
    billion yen from 30 billion yen, citing cash set aside for
    Olympus, whose former president revealed a $1.7 billion
    accounting fraud that lasted 13 years, was in September charged
    in the U.K. for allegedly deceiving auditors at a subsidiary.

    For Related News and Information:
    Olympus Is Charged With Misleading Auditors by U.K. Agency
    Smartphone Cameras at 41 Megapixels Pressure Canon, Nikon: Tech
    Olympus Compact Camera Sales to Extend Drop Next Year, CEO Says
    Olympus’ financial history: 7733 JP <Equity> CH <GO>
    Olympus’ share performance: 7733 JP <Equity> GP <GO>
    Bloomberg’s biggest technology news: TTOP <GO>
    Top stories about Japan: TOPY <GO>

    --Editors: Subramaniam Sharma, Thomas Mulier

    To contact the reporters on this story:
    Kanoko Matsuyama in Tokyo at +81-3-3201-3490 or
    [email protected];
    Takashi Amano in Tokyo at +81-3-3201-2423 or
    [email protected]

    To contact the editor responsible for this story:
    Jason Gale at +61-3-9228-8733 or
    [email protected]


    *7733 JP <Equity>
    7733 JP <Equity>

    NI HEA

    -0- Dec/18/2013 15:01 GMT

    Copyright (c) 2013, Bloomberg, L. P.

    ################################ END OF STORY 1 ##############################
  2. letsgofishing

    letsgofishing Mu-43 Veteran

    Nov 21, 2012
    South Africa
    Mike Kaplan
    Let's wait for January.....
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.