Olympus to make profits again in 2014 thanks to great camera sales
posted Monday, December 23, 2013 at 1:13 PM EDT
Thanks to increasing mirrorless camera sales -- of which the superb Olympus E-M1 plays a significant role, as it currently ranks #4 in Amazon.com's mirrorless cameras best seller list -- Olympus is expecting its camera business to make profits again in the next fiscal year, according to a report from Bloomberg. This is very good news for the company, which is still a bit shaken after the accounting scandal of 2011. Signing a strategic alliance with Sony certainly seems to have helped, as well.
The report states that Olympus expects mirrorless camera sales to rise to one million units in the next fiscal year, which starts in April 2014. If the prognosis holds true, these would help the company's camera unit return an operating profit of about US$68 million. Last year, though accounting for about 14% of the company's total revenue, Olympus' camera business reported an operating loss of roughly US$26 million in the months April thru September alone.
Olympus' share price has almost doubled in value since the start of 2013. The company's strengthening camera business is good news for other divisions, as well: Some of the innovations made in its camera unit can also be used in its health-care business. Overall it seems like all of this is very good news for users of Olympus cameras and Micro Four Thirds equipment in general.