News tagged with "olympus"
Pre-CES: Olympus has revealed the VG-160 affordable style compact. The VG-160 combines a 14 megapixel sensor with a 5x optical zoom covering the 26-130mm equivalent range. It has a 3.0" LCD screen and features the company's iAuto, automatic exposure mode that will identify and use any of the 29 scene modes that it recognizes. It can capture movies at up to 720p quality and includes the company's Magic Art Filter processing options. It will cost around $99.
Pre-CES: Olympus has launched the TG-320, an affordable rugged compact camera with 3.6x zoom lens. The lens covers a range equivalent to a 28-102mm lens on a 35mm film camera. It is waterproof to a depth of 3m (10ft) and is also shockproof, freezeproof and dustproof. It features a 14 megapixel sensor and can capture 720p HD movies underwater.
Former CEO Michael Woodford has issued a statement saying he will no longer seek to regain his position in the company. Woodford was removed by the company when he uncovered a financial cover-up aimed at hiding loses of over $1bn. He has subsequently campaigned to have the company's existing management board removed but has given up on the fight, having failed to win similar levels of support from Japanese shareholders as he received from overseas investors.
Offices and homes of executives connected to the Olympus accounting scandal have been raided by Japanese police. The move comes after a report commissioned by the company showed that losses of $1.7bn had been concealed for over a decade. However, the company did successfully file its amended accounts by the December 14th deadline imposed by the Japanese stock exchange to avoid being delisted. These restated accounts showed significantly reduced assets, and the company is now rumored to be planning to issue more shares in an attempt to raise money.
Olympus has announced a weather-sealed 12-50mm F3.5-6.3 motor zoom lens with macro capabilities. The M.ZUIKO DIGITAL ED 12-50mm F3.5-6.3 EZ covers the 24-100mm equivalent range and is optimized for video capture. It offers multi-speed powered zooming with a manual zoom option. It also has an AF-hold button (marked as L-Fn) that suspends AF to avoid re-focusing on the wrong object. It is the first Micro Four Thirds lens to feature the same level of sealing as the company's high-end SHG lenses for Four Thirds DSLRs.
Legal action should be taken against the responsible members of a board of directors that was 'rotten to the core,' says the independant report into financial irregularities at Olympus. The report confirms the use of an elaborate scheme to move around $1.7 billion investment losses from the 1990s off the company's balance sheet. Those losses were then disguised as excessive transaction fees when Olympus bought other companies, and in write-downs on the value of newly purchased assets.
Olympus' former CEO Michael Woodford has resigned his position as director of the company and called for a shareholder meeting to dismiss the rest of the board. The company's share price had started to recover some of the 88% value it had lost in the weeks since Woodford was removed as CEO for highlighting unusual payments by the company (he remained a director). Since then the company has admitted using these payments to cover up losses on earlier investments. An independent committee established by the company has reported it has found no evidence of the rumored involvement of organized crime syndicates in the deals. However, three board members, including the President and Vice-President have resigned over the issue. (via Reuters)
We've just published our review of the Olympus E-PM1: the PEN Mini. The Mini is the least expensive, and most compact-camera-user orientated, Micro Four Thirds model yet released. It's built around the long-serving 12MP sensor but includes the latest, impressively fast AF system from the most recent PENS. In keeping with its point-and-shoot ethos, the PEN Mini features few external controls, yet has extensive customization if you want a camera to grow into. Does this result in a model with broad appeal or a camera with an identity crisis? Read our review to find out.
Olympus's woes have deepened after the Tokyo Stock Exchange placed its shares 'under supervision' and warned of possible delisting. The news follows the admission that senior executives colluded for decades to hide investment losses from the market, and a subsequent statement from Olympus that it would not be able to submit its quarterly earnings report on schedule. The TSE has warned that the company will be delisted if the report is not submitted by 14th December, prompting a further fall in its shares which have now lost almost two-thirds of their value over the past month.
Olympus has dismissed its executive vice president after admitting concealing losses on investments. In the most serious revelation since the departure of former chief executive Michael Woodford, the company said that funds from previous acquisitions had been used to hide losses on securities investments since the 1990s. The news saw Olympus shares fall in value by up to 30% during Tuesday's trading.
Former Olympus CEO Michael Woodford has launched a scathing attack on the company, following his removal from his post. Olympus had said Woodford was removed from his post over a difference in strategic direction between him and the rest of the Board of Directors. In a frank interview with the Financial Times, Woodford calls this 'utter nonsense' and states his belief that his removal relates to an investigation he had commissioned, into unusual payments and his suggestion that the board's Chairman and Vice Chairman should stand down over the issue. In response to suggestions that Olympus may try to prosecute him for disclosing this information, Woodford says: 'Bring it on.'
Accessory grip maker Richard Franiec has announced he is developing a grip for the Olympus PEN Lite (E-PL3). The grip closely mimics the designs he already makes for the Canon S90/S95, Olympus XZ-1, Leica D-Lux 4 and 5, and the Sigma DP series. The anodized aluminium grip attaches to the front of the camera using industrial-grade adhesive tape and provides a hand hold very similar to the one offered by the Panasonic GF2 and GF3. The first batch of grips will be available from mid-September at a cost of $34.95 plus shipping.