New Olympus Q2 financial report: Reduced revenue due the intensified competition in the Imaging Business

Olympus issued the Q2 financial report and new revised forecast documents. And while the company as a whole is doing well there are only bad news coming from their Imaging Business:

They reported a 9.2 billion YEN operating profit loss. But what worries me most is that they had to hugely revise their forecast for the year to year basis. Profit is now expected to drop by -13% instead of the previously estimated -7%.

A month ago Olympus unveiled their future strategy in the Imaging Business:

– Expand sales of highly-profitable OM-D series cameras and PRO series lenses

Mirrorless camera system that are uniquely Olympus, attaining high level of compatibility between

overwhelmingly compact & lightweight and high image quality with the Micro Four Thirds Standard

– Accelerate development of products aimed for professional and high-level amateur users

– Improve manufacturing cost ratio by consolidation of manufacturing facilities and improved

efficiency in manufacturing startups