(UPDATED_2) Olympus will focus on mirrorless camera development. (Panasonic denies investment in Olympus)

UPDATE: I added the image from the Olympus presentation

UPDATE_2: You can download the full pdf (Click here).

This rumor and antirumor game is never ending! Reuters now reports that “Japanese electronics maker Panasonic Corp has no plan to invest in Olympus Corp , President Fumio Ohtsubo told Reuters on Thursday“. Also Olympus denied the deal rumor. We can no more trust Reuters :)

Anyway, Olympus released an official press release describing their plans (Source: Bloomberg). Bloomberg reprts: “2,700 jobs are to be eliminated by March 2014. Most of the jobs being cut are in overseas manufacturing, Sasa told reporters in Tokyo today. The company will close a plant in the Philippines this year and will reorganize others”

The good news is that “The company plans to restructure its imaging business and increase the focus on mirrorless cameras and high-end compact models, it said in the statement.” That is what I needed to hear! Compact camera and Four Thirds camera business is not where Olympus can earn the money in future. It’s an obvious step to focus on the strengths of the m43 business!