Olympus Finances Take a Dive in 2011, $412 Million Loss

Olympus may be the target of Samsung, Sony, Fujifilm and Panasonic, but that doesn't mean it is doing that well for itself.

In fact, the Japanese company has reported highly unfavorable financial results for the year 2011.

Even with strong camera sales (up 7.2 percent on year), and the top BCN ranking for 2011, Olympus ended up losing 32 billion yen on year.

That sum is the equivalent of $412 million and 311 million Euro, give or take a few hundred thousand.

The floods in Thailand were one of the factors behind all this, even if they did hurt the HDD industry more.

Olympus hopes to recover this year and will consider reparations to its overseas production facilities as one of its highest priorities. Whether or not this is enough will be left to the passage of time to decide.