- At CP+ 2026, OM System SVP Kazuhiro Togashi reversed his previous stance, saying the company is now “closely monitoring and analyzing” the compact camera trend.
- Last year, Togashi dismissed enthusiast compacts as a “temporary trend” and said the R&D investment wasn’t worth it.
- A new PEN camera is officially in development — Togashi confirmed the design concept phase has begun and “progress is good.”
- OM System is also investing in smaller wide-angle and prime lenses to complement the compact OM-3 body.
Just one year ago, OM System’s leadership was clear: the compact camera revival was a fad, and the company had no plans to chase it. Now, at CP+ 2026 in Yokohama, the tone has shifted dramatically.
In a wide-ranging interview with DPReview at this year’s show, OM System Senior Vice President Kazuhiro Togashi and Director of Marketing Communications Nobuaki Tanaka discussed everything from compact cameras and the PEN series to AI, computational photography, and lens development. The headline? OM System is no longer closing the door on compact cameras — and a new PEN is officially in the works.
From “Temporary Trend” to “Closely Monitoring”
At CP+ 2025, Togashi was unequivocal. OM System had no plans to develop a compact camera beyond the rugged TG series. He called the enthusiast compact revival a “temporary trend” and argued that the R&D investment — plus the effort of rebuilding a “high-end compact brand image” — simply wasn’t justified.
Fast forward to this year, and Togashi appears to have changed his mind. “We are closely monitoring and analyzing this trend,” he told DPReview. “The situation is very clear. The compact camera segment has shown signs of growth over the past two to three years.”
His reasoning is pragmatic: “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.”
This doesn’t mean an OM System compact is imminent — or guaranteed. But the fact that the company has gone from outright dismissal to active monitoring is a notable shift, and one that could leave the door open for compact fans hoping for a genuinely new option in a market dominated by the compact mirrorless alternatives currently available.
A New PEN Camera Is Officially in Development
Perhaps the bigger revelation is what’s happening with the PEN series. Last year, Togashi said it was “too soon” to expect a new PEN because the company hadn’t even settled on a product concept. That phase is now behind them.
“The new Pen’s concept progress is on schedule,” Togashi confirmed. “We already started creating the design concept. So we already started some kind of Pen camera project. Progress is good.”
The last PEN — the E-P7 — launched in 2021 under the Olympus brand and was only available in Europe and Japan. It didn’t sell well, which likely contributed to OM System’s hesitation. But the market has changed. As CIPA data recently showed, compact cameras are outselling DSLRs at a 5-to-1 ratio. The appetite for smaller, more accessible cameras is real.
Togashi offered a tantalizing teaser: “The new Pen will satisfy many, many younger generations in the future.” He also acknowledged a marketing challenge — many younger photographers don’t even know what “Pen” is, so reintroducing the brand will be essential.
In a separate interview with PetaPixel, Togashi went further — actively asking journalists what they’d want from a new PEN camera, suggesting the company has concrete ideas but is still fine-tuning the direction.
Compact Lenses and the OM-3 Factor
The compact story at OM System extends beyond camera bodies. Togashi emphasized that lens miniaturization is a priority moving forward. “The other systems are compact — maybe other competitors have smaller camera bodies, but not lenses,” he said. “Our lenses are very small and compact in the right way. This is a clear differentiation from our competitors.”
This matters especially for the OM-3, the company’s smallest interchangeable-lens camera. “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 admitted.
On the lens roadmap specifically, Togashi said OM System plans to “expand small wide-angle lenses and prime lenses in the future,” moving beyond the telephoto-heavy development of recent years.
AI: “Two Faces” of a Technology
The interview also touched on OM System’s approach to AI and computational photography. Togashi described AI as having “two faces” — the positive side (subject detection AF, noise reduction, enhanced processing) and the concerning side (generative AI and fake images).
“There is potential to provide generative AI in the camera body,” Togashi said, but framed it as an option under consideration rather than a certainty. Tanaka put the company’s philosophy bluntly: “Is it real photography or not? It’s a very important key for us.”
Still, both executives stressed openness to new technology. “In my personal opinion, we shouldn’t hide from new technologies in our cameras,” Tanaka added.
Financial Stability Fuels Ambition
Underpinning all of this is OM System’s improved financial position. “Our fundamental financial situation is very stable and stronger than it was before,” Togashi said. “We can invest in human resources or new technologies, not only for camera bodies but also for lenses.”
For a company that was spun off from Olympus amid concerns about viability, this is significant. OM System now has the resources to explore product categories — like compact cameras — that it previously considered too risky.
Why This Matters
The compact camera revival isn’t just a Canon and Fujifilm story anymore. If OM System enters the enthusiast compact space — whether through a PEN-style fixed-lens camera or something entirely new — it would bring Micro Four Thirds advantages like smaller lenses and mature computational photography features to a segment hungry for variety.
With Panasonic increasingly focused on full-frame, OM System also has an opportunity to become the dominant voice in the Micro Four Thirds ecosystem — and compact cameras could be a powerful way to expand their audience beyond the outdoor and wildlife niche they’ve carved out.
Nothing is confirmed, and Togashi was careful not to make promises. But the shift from “we won’t do it” to “we’re watching closely” is exactly how product categories get revived.
Frequently Asked Questions
Is OM System making a compact camera?
Nothing is officially confirmed. However, at CP+ 2026, OM System leadership shifted from dismissing the compact trend to saying they are “closely monitoring and analyzing” it. This is a notable change from their outright rejection last year.
When will the new OM System PEN be released?
No release date has been announced. Togashi confirmed the design concept phase is underway and “progress is good,” but shared no further details on timing or specifications.
What was the last Olympus PEN camera?
The last PEN was the E-P7, released in 2021. It was sold under the Olympus brand (before the OM System rebrand) and was only available in Europe and Japan.
Will OM System use generative AI in their cameras?
Togashi said there is “potential” for generative AI in camera bodies but emphasized that protecting “the real shooting experience” is a priority. The company is exploring the technology but hasn’t committed to implementing it.
Sources used for this article:
Featured image: Photo by Greg Rosenke on Unsplash.
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