OM Digital solution had the video removed yesterday. It was hosted by OM Digital Senior Manager Mark Thackara. The above summary was accurate based on my viewing of the video while it was still available.
@hoodlum - who and what was in that video?
I guess he leaked to much as the video was pulled.
They have such an optimism, such an optimism, just all workers do not share this
In an interview with Asahi, the CTO of the newly-created OM Digital Solutions answered several questions about the company, its products, and its future.
“At least for the time being, we will use ‘Olympus,'” he said. “However, it is better to move away from Olympus as an entity or continue to work under the name Olympus? I want to think about it.”
“The background to this is the shrinking camera market. It is not only our company, but it is quite difficult to grow the company by increasing sales as it is. In order to generate profits, it is necessary to reduce costs and reform the structure for that purpose. Olympus is becoming more and more a ‘Medtech Company’, that is, a company centered on medical devices. Then, the manufacturing process as a medical device manufacturer will be strengthened, and the cameras business will have to follow it as a company rule.”
Now they tell 180 degrees opposite things from even previous summer.
“If the camera market shrinks, we will make products simpler, deliver them, and sell them to our customers. In order to create a structure that can do that, it is better to be independent of Olympus and to be able to do various things with our own difference so that we can continue our business,” he explains.
This is lie.
Japan Industrial Partners was an ideal candidate for the imaging acquisition given its history of restructuring businesses, according to Kataoka. “JIP is good at cutting out businesses from the company, turning them into the black, and revitalizing them,” he says.
JIP is best for killing businesses, this is that they do.
Kataoka promises new products are on the way by the end of the year.
At best it is rehash of same things that Olympus is doing for last 3 years. They don't have any people to do new LSI now and without this - no one can do anything.
Now they need to sell old stock and they have lot of it. In the process finally killing all service and marketing.
The CPplus show is accepting registration for the various events to be held in late February. One of the events is organized by OM Digital and they say that they will finally “talk about the future of OM-D”.
To our Olympus Community,
It’s certainly been a year like no other. At Olympus, we’re thankful every day to be able to provide products, education, and inspiration that resonates with artists and professionals alike. Even in this year of hardships, you’re still engaging, creating and taking us along for the ride.
Thank you to our customers and our team who helped us navigate these uncharted times. To reaffirm our commitment to you, we’d like to announce our newest chapter. Effective January 1, the consumer products division of Olympus is now OM Digital Solutions Corporation. OM Digital Solutions will retain our leadership and capabilities in Research and Development, Production, Sales, and Marketing. You can feel confident that we’ll continue to support the imaging and audio products previously manufactured and sold by Olympus, as well as you and your creative endeavors.
I’m excited about the prospects for 2021, and I’m especially thankful for your patronage and loyalty.
Wishing you cheer and inspiration for the new year, from our family to yours.
Expect new cuts in service and more quite soon.
Dclife analyzed the current JIP situation and hopes the new OM Digital company will announce the new E-M1IV and PEN-FII at the CP+ show to prove their point. There may be also one or more new Macro PRO lenses.
Both cameras actually could be produced before sale in some amounts.
But LSI and all else are same old stuff, years old.
OM Digital Solutions contacted many if not all vivid Olympus supporters asking to help them during dismounting period and promising nice bonuses and gear as some of them report privately. Most of them are in very uncomfortable situation as they can't find new brands, all places for internet influencers are long time taken.
Reviews and assurances must help OM to sell all remaining stock and keep factory working at least 6 months before main big cuts will come (as they have huge stock of parts available due to COVID sales drop).
During last two months Olympus bodies sales are quite good (compared to start of the year, not previous years), lenses not so much. Company is still extremely far from profits are is burning millions of dollars each month.
Destruction stage has begun
On January 1, 2021, we progress as OM Digital Solutions Corporation. In recent years, moves towards digitalization have accelerated in response to changes in the marketplace, and new technological developments are being made in a number of fields. At the same time, the sense of value is critical, and we believe that what is truly being sought right now is a fulfilling life.
During our business as the Imaging Division of Olympus Corporation, we contributed to society with products such as cameras, audio recorders, and binoculars. With the camera business in particular, we utilized original ideas when developing products. In the film era, we succeeded with the development of the unprecedented compact, lightweight design of the OM series of 35mm SLR cameras. We have inherited this passion and development philosophy in the digital age, leading to the Micro Four Thirds standard, and a compact, lightweight design, through the mirrorless OM-D series. In addition, we have developed various state-of-the-art technologies, including lens groups with high optical performance, world-class image stabilization, and the High-Res Shot function, delivering high resolution imaging to photographers everywhere.
It is our manufacturing capabilities that have supported this business. This has been accomplished through forward-looking insight, a challenging spirit, and close relationships with our manufacturing site. We will continue to launch innovative products in existing business areas such as cameras, audio recorders, and binoculars, while combining our inherited manufacturing capabilities with state-of-the-art digital technologies, and will provide new solutions that stretch beyond the boundaries of existing products on the market.
The launch of this new company brings together a more focused and flexible organizational structure. Moving forward, this will allow the freedom to explore new business opportunities, enabling us to contribute to society with more passion than ever.
Witness as parts of company will be closed step by step.
The official GetOlympus US page announced that it will resume operation on January 4.
Rumor is that retailers asked for this to help them sale last remaining batches during hot season.
In less than 7 months Olympus remains will cease to exist, including service and anyhing material
This business is soon to be divested and therefore accounted for as ‘discontinued operation’ (= not consolidated anymore) but they are still reporting the corresponding figures.
They recorded an operating loss of ¥46bn in Q2 (July – September) and ¥48.6bn in H1 (April – September) and forecast a total operating loss of ¥53bn ($500m) until divesting the business to JIP.
See https://www.olympus-global.com/ir/data/brief/pdf/Olympus_Q1FY2021_Presentation_E.pdf
Headcount went down 30% in 6 months between 31 March 2020 (4,270 employees) and 30 September 2020 (3,031 employees). In Japan, less than 400 employees remain in the Imaging business.
Between the first half of FY2020 and the first half of FY2021, capital expenditures fell by half and R&D expenditures by 30%.
Q3 (October – December) business forecast is totally gloomy too:
Revenue: ¥6.3bn, down more than 50% in comparison to the same quarter last year after -43% in Q1 and -26% in Q2.
Operating loss: ¥4.5bn = 72% of revenue, even though all one-off costs should have been recorded in the Q2 accounts.
I have some bad news from Olympus in Japan. Olympus has plazas and service stations in four cities (Tokyo, Osaka, Fukuoka, Sapporo) in Japan. Half of them are being closed. Yesterday, Olympus announced that the plazas and service stations in Osaka and Sapporo will be completely closed in December. Also, the service station in Fukuoka will move to somewhere else. Also, the service center and plaza in Tokyo, which is using two floors in a building, will be reduced to a single floor.
https://www.olympus.co.jp/news/2020/an01868.html
Remember that servicing and replacement parts will be unavailable for most models in less than 7-9 months time.
If you want to get Olympus camera - get one spare or used one.
Previous managers made all this with fraction of money current had:
Present just fucked all and everything focusing on their own personal life and consumption, talking mostly only with ambassadors and representatives who liked their ass, despite all the smiles and usual Japanese nice approach.
Inside Imaging is reporting that though the Olympus sub-brands like M.Zuiko, OM-D, and PEN were part of the acquisition deal between Olympus and JIP, the Olympus brand was not. The imaging assets were bundled under private equity operating under the name OM Digital Solutions, which notably leaves the Olympus branding absent.
Olympus brand will be used until all existing assets will be sold out. On next stage it is not required.
Photolari had a chat with Olympus Europe manager Albert Marti:
The economics certainly don't add up. 40 per cent lower sales again in the future will not provide finances for much R&D.
The production of high quality lenses in Nagano will stop and be outsourced
As far as my source goes - JIP will fully kill Olympus m43 cameras and lenses. It does not mean that they won't sell remains and new old stock for months to come (at least mid 2021).
They already killed lenses as I said, camera will follow during slow season.
Influencers are always last to leave the sinking ship. They hope till the end that the dead milk cow will will rise again like Jesus. But no.
New company name - OM Digital Solutions Co., Ltd.
The representative director of the new video company OM Digital Solutions Co., Ltd. is Mr. Shigemi Sugimoto, who is currently the Imaging Division Head (Director in charge of the video business) at Olympus Corporation.
It looks like you're new here. If you want to get involved, click one of these buttons!