The aim of the agreement is to meet the needs of the rapidly growing global market for digital SLR cameras by fusing Olympus's industry-leading SLR camera technology with Panasonic's advanced digital AV technology, and by developing innovative new design concepts for next-generation digital SLR cameras.
The agreement covers the following three main points:
1. The two firms agree to jointly develop technologies and devices related to SLR camera systems (including camera bodies, interchangeable lenses, and related system peripherals) based on the Four Thirds System standard.
2. The two firms will individually develop digital SLR system cameras and related system products that incorporate the abovementioned technologies and devices.
3. With the aim of promoting widespread adoption of the Four Thirds System standard, the two firms will encourage other firms to participate in, and develop products for, the Four Thirds System standard.
The first Four Thirds System products to be introduced to the market were the professional-oriented Olympus E-1 and related E-System lenses, flash units, and other accessories that were launched by Olympus in October 2003. In December 2004, Olympus also introduced the consumer-oriented E-300 digital SLR. Olympus's "100% designed-for-digital" concept and technological advances such as the world's first supersonic dust reduction system have been highly praised by professional and amateur users alike.
With the signing of the agreement with Panasonic, Olympus will work to develop new-concept digital SLR cameras with new features, and will strive to expand its digital SLR camera business and create a new imaging culture.
Ever since it introduced the Lumix DMC-LC5 in October 2001, Panasonic has been developing products that contribute to photographic culture in the digital age. Last year, it introduced the DMC-FX7, a compact digital camera with 3x optical zoom and Mega Optical Image Stabilizer that has been highly praised by consumers. With the signing of the agreement with Olympus, Panasonic marks its entry to the SLR camera market, and aims to achieve its "Global 10" goals of achieving a larger global market share with a strengthened and expanded product lineup.
In the future, both firms will draw on their technological strengths to develop products in accordance with the terms of the joint development agreement.