Among vintage camera lovers, the Olympus OM series is a
classic. Made from the 1970s to the 1990s, the OM series of film cameras were
such fine performers that used models are still sought after today. With the
new digital OM-D series. Olympus hopes to continue the OM tradition of fine
performance and design in the E-M5, a Micro Four Thirds (MFT) camera with many
firsts: It’s the world’s first dust and splash-proof mirrorless system camera,
as well as the first with five-axis image stabilization; it is also Olympus’ first MFT camera with an electronic viewfinder.
Rebuilding
a Legacy
In 1937, Olympus introduced the M1, later called the
OM-1. The OM-1, smaller and lighter than any contemporary 35mm single-lens
reflex (SLR) camera, was a significant milestone in the history of cameras, and
the series destined to produce some of the finest cameras of its generation.
Olympus produced a variety of OM cameras over the years; those with
single-digit model numbers were the professional cameras, those with two-digit
and more model numbers were consumer cameras. The last consumer model was made
in the 1992, the last professional OM, the OM-4T (also known as the OM-4Ti),
was discontinued in 2002.
The
OM heritage is reborn
Time, it seemed, had left the OM series behind; but now,
ten years later, Olympus has revived the OM lineage with a new OM-D camera, the
E-M5. The ‘D’ in OM-D stands for Digital, and the model’s unusual starting
number seems to be Olympus’s way of saying that the OM-D series isn’t an
entirely new line; rather it is a continuation of the OMD heritage paused a
decade ago.
Like the PEN Micro Four Thirds (MFT) cameras Olympus has
released since 2009, the E-M5 pays homage to its OM namesake with its
retrospective body design. And like the PEN MFT cameras, the E-M5 is a
mirrorless interchangeable-lens camera; a digital camera without the mirror box
found in traditional SLR cameras, producing a smaller camera with a
comparatively large sensor and the ability to swap lenses.
But whereas the
PEN series emphasized the convenience and
simplicity offered by the PEN series of the film age, the OM-D inherits
the
mantle of SLR performance from the OM series. In development for a year,
the
E-M5, has been designed for serious photographers used to shooting with a
viewfinder, while also being a sturdy and weather-proof camera. This is
Olympus’ first MFT camera with a electronic viewfinder, and the first
ever dust and
splash-proof mirrorless system camera in the world.
Challengers
to the Throne
The OM-D E-M5 could not come at a more opportune time for
Olympus. Ever since the first mirrorless system camera was launched in 2008,
this new breed of camera has been slowly eating into the overall
interchangeable lens camera market share. In Japan, DSLR camera sales have been
steadily declining, while mirrorless system camera sales have been rising.
Among mirrorless systems, the Micro Four Thirds standard
emerged as the best-selling standard in 2011 with Olympus’ total sales in the
lead. Competition in the mirrorless system market is intensifying; to date
there are already eight mirrorless systems, each headed by its own
manufacturer, and that number might increase in a significant way if Canon ever
creates a mirrorless system.
The E-M5 is aiming for the high-end range of the market;
both in terms of performance and price, but its direct competitors are no
slouches. The X-Pro 1, a mirrorless system digital rangefinder from Fujifilm,
is launching with three prime lenses and a larger, APS-C sized sensor inside
(equal in size to entry to mid-level DSLR cameras).
The Sony NEX-7, another high performance mirrorless
system camera, also sports an electronic viewfinder, a compact design, highly
versatile physical controls and a APS-C sized sensor. Panasonic’s GH2, while a
class-leader in HD video-shooting, is already more than a year old and due for
an upgrade.
The
Heir to the Legacy
Still, the E-M5 camera brings a few advantages to go
table. As the oldest and most established mirrorless system camera standard
with the most comprehensive selection of native lenses, the Micro Four Thirds
standard is also the only one with two camera manufacturers backing it with the
largest number of third-party lens-makers.
The E-M5 itself comes with impressive new technology,
like a weather-proof exterior sealing a magnesium alloy interior, a brand new
16MP sendor and five-axis image stabilization mechanism. And perhaps, the best
key to the E-M5’s future comes from its past; with its striking vintage look
and fine family history, the E-M5 might just be the heir to the line Olympus was looking for.
The growth of mirrorless
Panasonic
released the first mirrorless system camera,
the G1, in October, 2008. A year later, mirrorless system cameras made
up
11.1% of total interchangeable-lens camera sales in Japan. Since then,
mirrorless system camera growth has been steadily growing.
BCN is a company which gathers the daily sales data
from retailers all over Japan. Among the top 20 best-selling interchangeable-lens
of 2011 in Japan, 12 were DSLR cameras while eight were mirrorless system
cameras. Compare this to BCN 2009’s report, where all but four of the top 20
cameras were DSLRs (and those four were the only mirrorless cameras you could
buy at the time).
We know that in
general mirrorless camera uptake has
been slower in the Western countries. CIPA (Camera & Imaging
Products
Assocation) reports that sales for mirrorless system cameras from July
to
December 2011 grew in Proportion when compared to overall sales of
interchangeable lens cameras. Mirrorless system cameras’ popularity
peaked in
Japan, taking 42 to 50 percent of the overall interchangeable lens
camera
market. Asia was second, growing from 22 to 30 per cent. America grew
from only 13 to 22 per cent. And Europe from 17 to 21 per cent.
While the quick
rise of mirrorless system cameras in Japan won’t necessarily translate
across to other countries, it’s a plausible indicator of
where the digital camera market is heading. As the segment in the
middle,
mirrorless system cameras are squeezing DSLR and compact camera sales,
while
compact cameras themselves are facing the squeeze from the other end
from
smartphone cameras (Sony has come out and said that compact camera
sales were
down 20% in 2011 across the industry).
DSLR cameras aren’t dying out, even as they’re losing
market share. The best-selling DSLRs in BCN’s top 20 ranking are entry-level
consumer models so we still have users choosing them over mirrorless system
cameras.
Still, if the previous three years were any indication,
2012 will see further growth of mirrorless system cameras, taking market
share from DSLRs. CIPA predicts that shipment of interchangeable lens cameras
will grow by 18.8 per cent in 2012, and they expect that growth will continue
in markets outside Japan.
Nearly every major camera company has theirhands in the
market, Nikon with their 1 series, Panasonic and Olympus with Micro Four
Thirds, Sony with NEX, Samsung with NX and Fujifilm with their X-series. The
only major manufacturer not in the game in Canon, if they release their own
mirrorless system camera in 2012 the market could shift in a significant way.
