Olympus is the latest digital camera manufacturer to report disappointing financial performance in the last quarter, as its net profits tumble by 62%.

“Olympus has blamed its woes in the digital camera market on its failure to launch popular cameras in a timely fashion. As a result, it has been unable to distinguish its products, making them susceptible to discounting. Another problem is its relatively small presence in fast-growing digital single lens reflex (SLR) models, high-end cameras that yield fatter margins and are less vulnerable to price falls than simple point-and-shoot compact cameras.”

Website: Reuters - Weak digital camera sales push Olympus profit down