None of us has any idea what Pentax '
should' do
. Ricoh is doing what they think Pentax should do
today in order to get to where they think Pentax
should be tomorrow.
We really need to stop putting each body and lens in a bucket. Hoya stripped Pentax to the bone, including much of the professional optical engineering staff and real estate holdings throughout Japan. They took all the synergies and left a brand name and a few partially-developed products.
Ricoh brings (mostly) manufacturing expertise and a long-term, discipline-oriented corporate culture to the table. Sure, there's some optical and digital engineering talent within the office machines and machine vision operations that can help lower production costs but they're not Canon in the 80's or Sony over the last 15 years. They aren't making a royalty on every laser printer sold globally the way Canon did - and using the cash flow to build a complete lens, camera, accessory (and manufacturing)
system, including manufacturing their own sensors. They aren't making a royalty (and their own internal profit) on every digital camera sold using their sensors the way Sony is - and using the cash flow to attempt to obsolete the entire SLR industry.
In the past Asahi built an entire brand system using royalties from Super-Multi-Coating. EVERY lens maker except Leica licensed at least part of the SMC process. One could mark the beginning of the decline of Pentax at the expiration of the SMC patents and not be too far wrong. But whatever Pentax capital stock and infrastructure existed on which to rebuild was captured by and is used today by Hoya.
I don't think - today - Ricoh really wants to compete on volume and scale with Canon, Nikon and Sony. They
could - Ricoh has enough capital - but making the necessary investment would actually have a negative effect on the entire corporate earning stream for several quarters (or so says the research department at my former investment bank). It appears
today Ricoh is taking an incrementalist approach, but we have no idea what's already being developed for 2018, 2019, 2020 . . . . . That's a very long runway.
I think Ricoh is building another, credible,
alternative camera brand - alternative to the entire CaNikon business and brand model - using cash flow generated by the enterprise itself, with only occasional capital investment from the parent company (such as the new evaporators necessary to apply the patented HD coatings). Realization of their goals is 3, 5, 7 years away. Achieving their vision is decades away.
It took them 30 years to build the Ricoh office machine system into the largest manufacturer globally in that segment. Who is to say they won't do the same with imaging?
Last edited by monochrome; 08-15-2015 at 05:41 AM.