Ever since their financial scandal, Olympus has been looking to bring on a big name investor to help get them out of trouble. Earlier this month that investor seemed to be Panasonic, but when that fell through everybody looked to the remaining three possible investors — Sony, Fujifilm and Terumo — to see if anybody was going to make the leap. According to Japanese business daily Nikkei, that investor is Sony. Read more…
A couple of weeks ago, reports confirmed that Olympus ex-CEO Michael Woodford would be settling with his former employer out of court rather than taking them to task for his unfair dismissal. Woodford was let go after blowing the whistle on Olympus’ financial scandal, but now it seems he will have the last laugh as The New York Times has finally put a figure to the settlement: $15.4 Million.
To make matters worse for the financially unstable Olympus, previous rumors that Panasonic would be investing in the company and becoming its biggest shareholder are being flatly denied by president Fumio Ohtsubo. That doesn’t mean Olympus isn’t still searching for an investor, but Panasonic — who just days ago seemed like Olympus’ knight in shining armor — is definitely out.
(via The New York Times and Reuters)
Image credit: Brand Reflection by J-Rod85
Due in large part to the massive accounting scandal that Olympus found itself in at the end of last year, the company hasn’t been doing that great financially. And now, according to Reuters, Panasonic is preparing to jump to Olympus’ aid by providing approximately 50 billion yen (635 million dollars) in capital. The move will benefit both parties, as Panasonic, who are struggling with sub-par TV sales, will become top shareholder in the company and hopefully add a new stream of revenue to their portfolio.
Even though, at this point, nothing has been confirmed by either company, Olympus has already reaped benefits from the rumored deal. According to Bloomberg, once the news broke, Olympus’ stock rose as much as 3.5 percent and began trading at the highest value the company has seen since March 30th.
(via Photo Rumors via Reuters)
In a recent interview with Fujifilm CEO Shigetaka Komori, German newspaper Frankfurter Allgemeine dived into some pretty intense financial conversation. Much of what was said didn’t pertain directly to photography — discussions about Fuji’s involvement in the medical field and cosmetics for instance — but certain parts of the interview were very interesting indeed. Read more…
Just yesterday news broke that Michael Woodford — the former Olympus CEO who blew the whistle on the now-infamous scandal and was subsequently fired — would be suing his former employer over unfair dismissal for a whopping $60 million dollars. And today, in an altogether not unexpected turn of events, Olympus is said to be preparing to settle out of court for a smaller (yet still massive) amount of money — “only” $15.5 million.
The settlement is still pending approval from the new board, but all evidence points to a positive outcome for Woodford, who over the last several months has been hailed as everything from whistleblower to “boldest business person of the year.” After this settlement we could probably also add “significantly rich[er]” to that list.
Image credit: Money by 401K
You might remember the Olympus marketing stunt from a few weeks ago when they sent a box complete with two walnuts and a note that simply read “coming soon” to a few different tech blogs. Since then we’ve seen the release of the new TG-1, but apparently Olympus isn’t done with either their new releases or the marketing stunts that go along with them.
Sadly, their most recent note to TechRadar came without finger food, but instead simply read:
“A portrait! What could be more simple and more complex, more obvious and more profound.”
This time around we won’t speculate as to what the note is hinting towards (although some believe it’s a 75mm portrait lens that’s been in production for some time) but feel free to deliberate away in the comments down below.
It’s usually a bit anti-climactic when a company unveils a product that was all but completely leaked beforehand, but the new Olympus TG-1 iHS is still a very exciting addition to the rugged camera market. In the end it’s about quality, and on that front Olympus are delivering in big ways, prompting some to say that the TG-1 is probably the best rugged camera on the market. Read more…
The world of photography is full of “nuts,” but these are the first we’ve seen that you could actually crack open with a nutcracker. For its latest photography marketing stunt, Olympus has been sending out a box complete with two walnuts and a note that simply says “coming soon.” TechRadar received one, and PhotographyBlog received another.
The Olympus OM-D EM-5 generated quite a bit of buzz when it was first announced due to its retro OM-inspired styling, but now reviews of the camera are suggesting that its potential as a camera are on par with its sleek form. DPReview has published a comprehensive review of the camera, giving it glowing marks and calling it the best Micro Four Thirds camera yet:
The E-M5 is, without question, the most accomplished Micro Four Thirds camera we’ve yet seen and, given how well established the system has become, it vies for the title of most capable mirrorless option yet. It’s not entirely without flaws and, predictably, most of those relate to continuous autofocus. But, for the most part, the E-M5 is simply an awful lot of camera in a compact and attractive body. It’s a nice camera to use and the images it takes are just as enjoyable. Without any reservations whatsoever, it deserves our Gold Award.
Looks like Olympus is doing a job good of shaking off its recent financial scandal.
Olympus OM-D E-M5 Review [DPReview]
I’ve always been fascinated by pancake lenses. It just amazes me that something that small can actually function. As I mentioned in an earlier post, we’ve been taking things apart to determine where and how (and sometimes if) the lenses can be adjusted optically. So, I decided to do two pancake lenses for mirrorless cameras side-by-side to see how they differed (the Sony 16mm f/2.8 E mount and the Olympus 17mm f/2.8 micro 4/3 mount). I wasn’t sure there would be much we could do with pancakes (and there wasn’t), but I still found the look inside rather interesting.