Smartphones Make Olympus Cry Uncle, Drops Low End Cameras
5/20/2013 by: Darleen Hartley
Raise your hand if you take photos with a point-and-shoot pocket camera. Or do you use your smartphone instead? So there’s the problem. With quality resolution and ease of carrying one device, the public has moved towards picture taking on their phones rather than the once popular compact camera. Applications are available to smartphones that just don’t work on point and shoot cameras. Phones let you snap a photo, email it to friends or post it on Facebook. Some phone apps even help you edit the image before sending it off.
Therefore, Olympus a company who earned fame in camera equipment is dropping its low-end V series of compact cameras. A loss in their recent fiscal year and predictions of a drop of one-half in unit sales coming this year, Olympus will focus on their high end better quality and more flexible interchangeable lens cameras. They can still shine in that category. Olympus uses a mirrorless SLR design which renders their product smaller and lighter than competitors with mirror-based viewfinders.
Olympus will focus on cameras with interchangeable lenses
You can get a VR320 on eBay anywhere from $88 - $146. You can buy a brand new VR340 on the Olympus site for only $99, reduced to 60 percent of its original price. You need only look at the Olympus homepage to see the direction the company is taking – the medical industry. Headline News posted on the Olympus site calls attention to their 3D laparoscopic surgical video video, their HD bronchoscopes, and a next generation ultrasound processor for their endoscopes.
The laparoscopic aid provides the surgeon with natural 3D vision and depth perception when performing laparoscopic procedures and is independent of a surgeon's skill level. The BF-190 bronchoscopes are powered by Olympus’ new EVIS EXERA III Universal Platform, the only HDTV imaging system that provides for more accurate bronchoscopic diagnosis and treatment.
Olympus has a broad product base that should sustain it beyond the camera market as they cut back in that division. They operate in the medical, life science, and industrial arenas in addition to their imaging business. Their stock price has risen over the past year, trading today around $31 per share.
Perhaps the recent movie Olympus Has Fallen isn't completely true yet?
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