To partially answer Markac's point, it's not just the cost of producing a camera with a FF sensor. Most of Pentax's recent lenses have been designed and built with cropped sensors in mind. They would all have to be re-designed to accommodate a FF sensor, and would be larger, heavier, and more expensive. The cost of such a program would be prohibitive to Pentax, as the cost of largescale lens replacement would be to many of its customers.
And what then? No manufacturer can compete directly with Canikon - they have the budget and the research facilities to continuously upgrade their lens range . A smaller manufacturer can only succeed in the market by carving out a niche or niches. This Pentax has done with it's small, compact, high quality primes. Try finding a pancake lens in Canon's lineup!
As for bringing back all the FA lenses, I wonder how many would show their age when put in front of a 20MP+ FF sensor? Some would be fine, but the rest? Remember, Canon has had to revamp much of its range over the last few years - check their website to see how many of their lenses have a II after their names. And that includes their big-money telephotos. Can Pentax/Hoya afford this, and would they make money if they did?
Peter
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