Olympus PEN E-PL1 Micro Four Thirds Camera Introduced

[Reid Kistler]

<div class='os_post_top_link'><a href='http://www.dpreview.com/previews/olympusepl1/' target='_blank'>http://www.dpreview.com/previews/olympusepl1/</a><br /><br /></div><p><em>"The mirrorless interchangeable lens camera was a long time in coming but has fairly quickly established itself as a viable alternative both to compact cameras and DSLRs. However, while manufacturers regularly talk to us about wanting to exploit the gap between these two established types of cameras, all the models released so far have tended towards the DSLR-end of that space....&nbsp; [T]he Olympus E-PL1... brings a stripped-down body and simplified interface to the Micro Four Thirds format."</em><img src="http://images.thoughtsmedia.com/resizer/thumbs/size/600/dht/auto/1268502962.usr19541.jpg" style="border: 1px solid #d2d2bb;" /></p><p>Richard Butler, at dpreview.com, has previewed the new <a href="http://www.olympusamerica.com/cpg_section/product.asp?product=1501#/productViews" target="_blank">Olympus E-PL1</a>, and while his article is not an actual Review of the camera, the tone suggests that he is favorably impressed with it overall. The E-PL1 offers some attractive features, including 720p Movie Mode, In-Body Stabilization, a large image sensor (apparently the same as in the Olympus E-30 DSLR), Live View LCD Display, an included 14-42mm Lens - and the ability to use other Micro Four Third lenses. On the down side, the basic body plus lens kit retails at $599, which seems steep for a camera which makes advanced controls less convenient, and which lacks an eye-level viewfinder - an oversight that Olympus will gladly remedy for the princely sum of $279.99 for the VF-2 Electronic Viewfinder attachment. Someone who owns a Micro Four Thirds system might find the E-PL1 an attractive addition, but I cannot help but wonder who else would be tempted by it.&nbsp;</p>

[Jason Dunn]

Someone who owns a Micro Four Thirds system might find the E-PL1 an attractive addition, but I cannot help but wonder who else would be tempted by it.

Actually, I think lots of people would be tempted by it, because it will take images 5x nicer than any point and shoot. :) The great part about this the price - the first-generation micro-four thirds cameras were all pretty expensive, but this is quite a bit less expensive.

[Reid Kistler]

Actually, I think lots of people would be tempted by it, because it will take images 5x nicer than any point and shoot (http://forums.thoughtsmedia.com/#). :) The great part about this the price - the first-generation micro-four thirds cameras were all pretty expensive, but this is quite a bit less expensive.

The large image sensor would certainly be attractive - and ought to provide a considerable advantage over any Advanced / Super Zoom P&S camera that I am aware of.

But am still not convinced this system provides enough value - at $599 - to someone who does not otherwise own / plan to own another Micro Four Thirds body / kit. (CAN see it being attractive to someone who does...)

Local ads this week offer 2 Nikon, 2 Sony, and an Olympus DSLR - all body plus 1 or 2 lenses - priced from $399 to $699, while Super Zooms are running sub-$400.

Guess my argument is that anyone wanting high quality images & advanced controls is going to opt for a DSLR - and that the vast majority of people who seek simplicity, light weight, and P&S ease, are going to opt for a sub-$400 (or sub-$200!) digital camera, whether an Advanced P&S, Advanced Super Zoom, or one of the high-zoom P&S models....

Of course, the vast majority of digital camera buyers won't even know that "image sensor" is an issue: all they will see is "12 MegaPixels!" (or "14 MegaPixels!!!") and assume that that means their pictures will be Perfect.... :rolleyes:

OTOH, even eliminating "the vast majority" may still leave enough of a market base for Olympus to meet their sales goals, if these are set low enough....

[Jason Dunn]

Local ads this week offer 2 Nikon, 2 Sony, and an Olympus DSLR - all body plus 1 or 2 lenses - priced from $399 to $699, while Super Zooms are running sub-$400. Guess my argument is that anyone wanting high quality images & advanced controls is going to opt for a DSLR - and that the vast majority of people who seek simplicity, light weight, and P&S ease, are going to opt for a sub-$400 (or sub-$200!) digital camera, whether an Advanced P&S, Advanced Super Zoom, or one of the high-zoom P&S models....

You could very well be right - but in the $500 to $700 range, if someone is looking at a DSLR, then they look at a Micro Four-thirds system where the camera body is significantly smaller than a DLSR, and both have comparable image quality, they just might go for one. Guess we'll see how they do in sale this year. :)

This might help give some context:

http://www.dpreview.com/news/1003/10030401gfkq4salesreport.asp

[Reid Kistler]

http://www.dpreview.com/news/1003/10...alesreport.asp (http://www.dpreview.com/news/1003/10030401gfkq4salesreport.asp)

Interesting sales data, and while I would agree that it will take some time to know how the market reacts, there are a couple of bits of info in the article that could indicate BOTH a Small Market AND a Sufficient Market:

interchangeable lens cameras (DSLR and mirrorless) contributed to around 9.4% of total sales volume in Europe, but approximately 31.2% of the total sales value. Micro Four Thirds accounted for 3.2% of these volumes.

Thus ALL interchangeable lens camera sales still represent a distinct minority on a number-of-units sold scale (less than 10%) - but the $ (or Euro) value, and presumably the Profit level, is high enough to make the category a success.
It is not clear in the article whether Micro Four Thirds represent 3.2% OF THE 9.4% INTERCHANGEABLE LENS MARKET - which would be infinitesimally small - or 3.2% of the TOTAL Digital Camera Market, which would still be a distinct minority, but given the higher unit costs (&, again, hopefully profitability), might be sufficient to keep the format running.

My GUESS is that Micro Four Thirds sales are, indeed, only 3.2% of the Interchangeable Lens Market - simply because it is difficult to imagine that they have captured over 30% of that market. (Especially as they hold only "11.1% of total interchangeable camera unit sales" in Japan.)

Still, I may be guilty of taking too provincial of a viewpoint: The Japanese seem to be noted for their appreciation of items presented in a smaller format than we in the United States (laptop and hand-held computers come to mind), and it is certainly possible that much of Europe may as well. In any event, there are a lot of products that are a Success Globally, even though they have only a minor presence in certain economies....

It will, again, be interesting to see whether the relative sales volumes achieved in Japan can be duplicated in other geographic areas, or if it is merely a temporary spike due to a new product - or if the format does indeed have legs....

[Jason Dunn]

My GUESS is that Micro Four Thirds sales are, indeed, only 3.2% of the Interchangeable Lens Market

Yes, that's probably right - but let's keep in mind it's only Panasonic and Olympus making these cameras so far, and they only have a couple of models on the market. 3.2% from 0% in maybe 18 months is pretty good. :) The category will only grow if Canon and Nikon come along with their own versions of course, but it's off to a decent start.