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05-02-2008, 06:05 AM   #1
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Pentax Canada to close down?

Sorry for the disorganized writing, I just want to pour this out ASAP...

I heard news from someone who worked for Pentax Canada. I say worked because he quit recently to work for one of the "Big 2." Why quit? Because of Hoya. He is now unsure of the future of Pentax because of what's happening.(Though he says pound for pound the K20D is one of the best cameras out there, he shifted to one of the big 2 because he's unsure of Pentax's future in cameras and lenses). The Hoya people went to the Canada office and started laying off people left and right. (Just last week, 25 people were laid off). Half of their warehouse stock were sold off for a song he says. They still have stocks left but he says it will all soon be gone. He said the lenses were sold BY THE POUND, to Henry's and some other store, I forgot the name, owned by one Ron Silverstein. Anyway, he says the lease for the warehouse won't be renewed, and it seems that the end of Pentax Canada is near. He also said that Pentax is at a loss worldwide, and that Hoya even called Pentax Canada employees as "ineffective." Hoya, according to him, is not at all interested with Pentax Imaging, but only bought Pentax for their medical instruments. He says that the Hoya people seem to be all business (read: cold) and will do anything to cut their losses, even if it means closing out Pentax Imaging altogether.

My take on this? I'm hoping that the plan is to keep Pentax USA to handle the whole of North America, to cut costs. The source seemed pessimistic, but I don't think Hoya can afford to close down Pentax Imaging.

The only good thing coming out of this is, he'll be selling me his FA*80-200/2.8 (he has 2!) for $800 As well as his complete limiteds and pancakes "for a song."

Any Pentaxians from Canada feel this coming?

05-02-2008, 06:21 AM   #2
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QuoteOriginally posted by leadbelly Quote
Sorry for the disorganized writing, I just want to pour this out ASAP...

I heard news from someone who worked for Pentax Canada. I say worked because he quit recently to work for one of the "Big 2." Why quit? Because of Hoya. He is now unsure of the future of Pentax because of what's happening.(Though he says pound for pound the K20D is one of the best cameras out there, he shifted to one of the big 2 because he's unsure of Pentax's future in cameras and lenses). The Hoya people went to the Canada office and started laying off people left and right. (Just last week, 25 people were laid off). Half of their warehouse stock were sold off for a song he says. They still have stocks left but he says it will all soon be gone. He said the lenses were sold BY THE POUND, to Henry's and some other store, I forgot the name, owned by one Ron Silverstein. Anyway, he says the lease for the warehouse won't be renewed, and it seems that the end of Pentax Canada is near. He also said that Pentax is at a loss worldwide, and that Hoya even called Pentax Canada employees as "ineffective." Hoya, according to him, is not at all interested with Pentax Imaging, but only bought Pentax for their medical instruments. He says that the Hoya people seem to be all business (read: cold) and will do anything to cut their losses, even if it means closing out Pentax Imaging altogether.

My take on this? I'm hoping that the plan is to keep Pentax USA to handle the whole of North America, to cut costs. The source seemed pessimistic, but I don't think Hoya can afford to close down Pentax Imaging.

The only good thing coming out of this is, he'll be selling me his FA*80-200/2.8 (he has 2!) for $800 As well as his complete limiteds and pancakes "for a song."

Any Pentaxians from Canada feel this coming?
Holy Shit!!! That is really, really Bad!!!

Holga, here I come!

Ben
05-02-2008, 06:29 AM   #3
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QuoteOriginally posted by leadbelly Quote
but I don't think Hoya can afford to close down Pentax Imaging.
Please, can you elaborate on this?

Besides. I wouldnt be affraid. Looks like Hoya is reestructuring the Pentax imaging section, it doesnt mean (necessarily) that the sky is going to fall yet. But who knows.
05-02-2008, 06:30 AM   #4
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Pentax isn't going anywhere soon ... but those cheap lenses, they'll be going quick!

05-02-2008, 06:32 AM   #5
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That's too bad

I just got a starter K200D kit from ironically Henrys, believe me when i say it was a hard toss up between the K200D and the Canon Xsi. I based the decision on my needs and the K200D won out, the main deciding factor was the AA batteries as i plan on using this as my travel kit.

I wonder if that's why the sales person at Henrys was so enthusiastic to sell me the Pentax, i'll look for further discounting (if any) and pick up another body
05-02-2008, 06:40 AM   #6
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I hope that this problem is not endemic. If so, that might shed some light on other interesting factors that I now can understand. The severe cutting of advertising budgets over last year etc.

Ben
05-02-2008, 06:45 AM   #7
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@Gruoso: What I meant was, Hoya wouldn't DARE close down Pentax Imaging worldwide (as per the source's pessimism) lest they incur our wrath...

The source also says unsold *ist-D's are selling for about $160 each... and that the bins of lenses in henry's haven't been displayed yet... so Clicker, you can grab a second body at a knockdown price!

I asked if they have unsold K20D's they're selling for cheap, haven't heard from him yet though... I hope they can sell me lenses by the pound too! LOL
05-02-2008, 06:50 AM   #8
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@ben: Actually, I asked him if what's happening is connected in some way to your leaving Pentax's payroll! though he answered rather seriously, "I don't know anymore..." lol

05-02-2008, 07:07 AM   #9
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To restructure Pentax Imaging North America may make sense.

However, to close down Pentax Imaging doesn't. From a business perspective, Hoya has two choices:
  1. keep it alive and make it profitable (Symptom: reorganize, close down small sites).
  2. beautify bilance figures and sell, potentially to Samsung (Symptom: reorganize, cancel development projects).

My guess is at #1 as it keeps Hoya in the glass for optical lenses business.

Vendors like Hoya include:
  • Asahi Glass
  • Hoya
  • Nippon Sheet Glass
  • Schott
05-02-2008, 07:13 AM   #10
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QuoteOriginally posted by leadbelly Quote
My take on this? I'm hoping that the plan is to keep Pentax USA to handle the whole of North America, to cut costs. The source seemed pessimistic, but I don't think Hoya can afford to close down Pentax Imaging.
Just from some of the comments I've read and some things I've seen, Pentax Canada wasn't entirely effective in the Canadian market. There's a few of us who have sent in email inquiries that went without responses; theres all the other manufacturers reducing their prices to reflect something closer to parity in the CDN/US $ and Pentax Canada being slow on the take there (whether their fault or not). I'm pretty sure that there's a few other decisions that proved less than effective on their behalf as well.

And while it would be a shame to loose Pentax Canada altogether, I think a bit of a shake-up was in order. We'll see how it works out though.

If I had to guess about things based on his comments and him being an ex-employee of Pentax Canada, I'd guess that Pentax USA will take over distribution of all of N.A., continue to sell camera equipment and Hoya will remain blissfully in the background guiding things along as they see fit.

And if, by some complete freak of nature, Pentax is just pulled from the CDN market (in a minolta type way), then perhaps you could find out if they have an FA* 600mm f/4.0 lens tucked away in the back corner of the warehouse, ready to be sold by the pound. I'd be willing to cab it over there right now from Guelph for that kind of deal!
05-02-2008, 07:23 AM   #11
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@Andrew: Actually, if you know someone who works for Pentax Canada, you can buy (or get) some of their unsold stock that haven't been sold by the pound yet! (as the ex-employee said, if he knew what was gonna happen, he could've just snuck out with whatever lens I wanted before he left! LOL) Either way, I guess Canada is in for an influx of Pentax lenses, cheap! (unless someone buys the whole lot and sells them all at regular prices! hmmm...)
05-02-2008, 07:27 AM   #12
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QuoteOriginally posted by leadbelly Quote
@Andrew: Actually, if you know someone who works for Pentax Canada, you can buy (or get) some of their unsold stock that haven't been sold by the pound yet! (as the ex-employee said, if he knew what was gonna happen, he could've just snuck out with whatever lens I wanted before he left! LOL) Either way, I guess Canada is in for an influx of Pentax lenses, cheap! (unless someone buys the whole lot and sells them all at regular prices! hmmm...)
Unfortunately, no such luck for me.

This probably means there's going to be a massive sell-off on ebay by Henrys.....and based on the way pentax gear goes on ebay......
(I don't think my wife will let me re-mortgage the house for a couple of lenses)
05-02-2008, 07:31 AM   #13
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QuoteOriginally posted by benjikan Quote
Holy Shit!!! That is really, really Bad!!!

Holga, here I come!

Ben
Not necessarily. Sounds like SOP to me for a company like Hoya that is bottom line driven. Any warehouse facility that still has ist-D's sitting on the shelf is ineffective. Close it down and collect the money from stale inventory. Cutting the ad budget in Europe makes sense also. A traditionally based ad program is not cost effective in todays market so why throw money away. Hoya is just cleaning house to see if the imaging division is worth keeping.Sales in the last quarter were off by 25% and not just from dumping the P & S cameras. The DSLR's didn't do as well as expected either.

Interesting times to say the least. Nothing to panic about IMO. Might even be a good deal for people that are looking for bargains. My bet is the K200D and K20D will be taking a real nose dive in price next. Rebates might even be reactivated.

Ken
05-02-2008, 07:39 AM   #14
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QuoteOriginally posted by benjikan Quote

Holga, here I come!

Ben
Or Samsung!! Don't take your eyes off them! The world of cameras is changing fast.
05-02-2008, 07:55 AM   #15
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wow you serious?! oh man hope it doesn't propagate into the closure of Pentax Canada altogether.

Though in the eyes of the customer, its kinda a pinch at the moment. With close to dollar parity and American prices like $50 cheaper if not more than Canadian prices. I guess it is a question of supply and demand.

I think it might just be restructuring because, they'd snuff out alotta potential/current Pentaxians by shutting the Canadian division down.
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