The interchangeable-lens camera market may be holding steady, but OM System executives say the ground beneath it is shifting. In a recent interview at CP+, they pointed to smartphones, rising prices and changing expectations surrounding computational photography as forces reshaping where they compete and what they focus on.

At this year’s CP+ show in Yokohama, we sat down with OM System’s Kazuhiro Togashi, Senior Vice President of Global Brand & Marketing Strategy and Nobuaki Tanaka, Director of Marketing Communications, to talk through those questions from their perspective. In a wide‑ranging conversation, we discussed everything from compact cameras and the future of Pen to lenses, OM System’s outdoor positioning and how far they’re willing to go with AI.

Changed opinions on compact cameras

For now, the Tough series is OM System’s most current compact camera, with the TG-7 coming out in 2023. Image: OM System

Last year at CP+, Togashi made it clear that OM System had no plans to develop a compact camera beyond the TG series. Instead, he told us, “We feel that this is a temporary trend,” in terms of enthusiast compacts. He also added that high-end compacts would require too much investment in “research and development [and] also in reestablishing a high-end compact brand image” to allow for a profitable product.

“We are closely monitoring and analyzing this trend”

Now, though, Togashi seems to have changed his mind. “We are closely monitoring and analyzing this trend,” he tells us. “The situation is very clear,” he says, adding that “the compact camera segment has shown signs of growth over the past two to three years.” As Togashi sees it, “some users who originally intended to purchase an ILC but were unable to do so due to higher prices are increasingly considering premium compact cameras as an alternative.”

While this apparent change in stance doesn’t necessarily mean we should expect an OM System compact this year (or at all, for that matter), it could leave the door open for hope among compact fans looking for a truly new option.

A new Pen is underway

The last Pen came out under the Olympus brand. OM System made it clear that a new model is in the works, though. Image: Olympus

Togashi also told us last year that it was too soon to expect a new Pen. “We think the camera’s design must realize the concept of the product, so we don’t start to decide the camera design before deciding the camera’s concept,” he said at the time, adding that, “we haven’t decided on the product concept” for the Pen.

“The new Pen’s concept progress is on schedule”

It appears that process has progressed, though. “The new Pen’s concept progress is on schedule,” he says. “We already started creating the design concept. So we already started some kind of Pen camera project. Progress is good.” While that was the extent of the detail he is able to share, Togashi adds that the “new Pen will satisfy many, many younger generations in the future.” It certainly is an exciting-sounding teaser, at the very least.

“The new Pen will satisfy many, many younger generations in the future.”

“The Pen series is very important for us,” Togashi says. But he also has a clear understanding that, given how long it’s been since the last Pen (2021 for the Pen E-P7), some reeducation will be necessary to help people understand the legacy of that line. “We will explain about the Pen again to the market,” he says. “Because you are specialists, right? You know a lot of insight for the camera industry and manufacturing history, but maybe younger generations, they don’t know what ‘Pen’ is.”

AI and computational photography

OM System’s latest cameras, the OM-3 and OM-5 II, have a new button that lets you directly access their computational photography features. Photo: Mitchell Clark

While the Pen is centered around nostalgia, OM System is also focused on advancing technology to offer photographers something new in camera bodies. Togashi says this comes in the form of three key points: updated hardware (such as image processing engines, new sensors or AI chips), enhanced computational photography and AI features.

AI, in that framework, is something Togashi describes as having “two faces.” On the positive side are things OM shooters already rely on, like subject detection, AF and noise reduction that can squeeze more usable files out of smaller sensors. “AI subject detection AF will continue to be advanced by AI technology advancement, and noise reduction functions can also be improved by AI,” Togashi says.

“There is potential to provide generative AI in the camera body,”

There is a concerning side, too, however. “Generative AI can easily make fake images,” Togashi acknowledges. “Therefore, we also need to take into consideration this concern.” Even so, he isn’t closed off to the idea of generative AI in a camera. He tells us that there is “potential to provide generative AI in the camera body,” but frames it as an option on the table rather than something inevitable.

Despite seeing potential, Togashi and his colleagues stress that they feel a responsibility to protect “the real shooting experience.” Tanaka put it bluntly: “Is it real photography or not? It’s a very important key for us.”

“We shouldn’t hide from new technologies in our cameras”

Still, Tanaka is remaining open to the idea. “In my personal opinion, we shouldn’t hide from new technologies in our cameras,” he says. No matter what, the team makes it clear that it is interested in providing options for users, giving them the power to decide whether to use generative AI or not.

The importance of OM System’s lenses

OM System has been mostly focused on telephoto lenses in recent years, but Togashi says there are plans for more wide angle and prime lenses in the future. Photo: OM System

Some users have questioned whether lens development at OM System has stalled because of a thin lens roadmap compared to the past, but Togashi assures us that is far from the case. “For our lens lineup, we’d like to expand more and more,” he says. Lately, that expansion has largely been focused on longer telephoto lenses, “but we also have a plan to expand small wide-angle lenses and prime lenses in the future,” he adds.

“We also have a plan to expand small wide-angle lenses and prime lenses in the future”

Togashi emphasized that lens size is a focus for the team moving forward. After all, the Micro Four Thirds format allows for more compact lenses compared to APS-C and full-frame. “The other systems are compact – maybe other competitors have smaller camera bodies, but not lenses,” explains Togashi. “Our lenses are very small and compact in the right way. This is a clear differentiation from our competitors.”

Compact lenses are especially important following the launch of the OM-3. “I think we need appropriately designed brand‑new lenses for OM‑3, as many of the existing lenses are relatively large for this type of camera,” Togashi says.

Aiding the promise of OM System’s lens lineup is the company’s financial situation. Togashi tells us that the company is generating operating profit continuously. “Our fundamental financial situation is very stable and stronger than it was before,” he informs us. “We can invest in human resources or new technologies, not only for camera bodies but also for lenses. Therefore, we will develop new lenses in the future.”

This article is based on an interview by Dale Baskin and Abby Ferguson at CP+ 2026. It has been edited for clarity and flow.

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