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Top Ten Digital Cameras

Nikon D70s DSLR
Canon Powershot S2 IS
Canon Rebel XT DSLR
Nikon D50 DSLR
Nikon Coolpix S1
Casio Exilim Zoom EX-Z750
Canon EOS 20D
Canon Powershot SD400 - IXUS 50
Panasonic Lumix DMC-FZ20
Sony Cybershot DSC-T7

Hot DSLRs

Canon EOS 5D
Nikon D200
Canon EOS 30D
Canon EOS 400D
Nikon D80 DSLR
Nikon D40
Canon EOS 40D (Rumored)

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December 2006 Archives

Dec 31: How to Make A Light Tent

 Dps Tent Lindt-1-1Have you ever wanted to get close up shots of objects on white backgrounds looking like they've been taken in a studio?

Don't have the budget to buy your own professional light tent?

You might want to check out this hack at Digital Photography School titled How to Make A Inexpensive Light Tent which takes you through the process of making your own for just a few dollars step by step.

All you need is a box, some fabric, glue, tape, white card, household globes and you'll be well on your way!

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Dec 30: Canon EF 50mm f/1.2 L USM Lens Review at The Digital Picture

Canon-Ef-50Mm-F:1.2LThe Digital Picture has posted their review of the Canon EF 50mm f/1.2 L USM Lens where they write - "The Canon EF 50mm f/1.2 L USM Lens is going to be purchased by those who want the best image quality they can get from f/1.2 to f/2, by those needing a more-pleasing background blur quality than the other two 50s deliver, by those requiring the least amount of lens flare in their results or by those who need/want the best quality (build) lens they can get. I can't say that the Canon EF 50mm f/1.2 L USM Lens is a good value, but I do think it is worth the price to serious photographers who need what it can deliver."

Read more about the Canon EF 50mm f/1.2 L USM Lens

Compare prices on the Canon EF 50mm f/1.2 USM Lens

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Dec 29: Canon PowerShot A540/A530 Overheating Problems

Canon have released a safety notice in the last day or two notifying Canon PowerShot A530 and A540 users of problems with overheating around the battery compartment.

Their safety notice is below:

Canon USA Safety Notice

To Customers Who Use the PowerShot A530 / PowerShot A540 Digital Camera:

Thank you for using Canon products. We have discovered that, in a very small number of PowerShot A530 and PowerShot A540 digital cameras, the area around the battery cover on the bottom of the camera may become hot. We would like to convey the details of this phenomenon and our service policy. We sincerely apologize for any inconvenience caused to customers who use these products. We spare no effort in our quality management to make sure our customers can use our products with confidence. We hope our efforts will earn your understanding.

Phenomenon
We have discovered that in cameras where the opening/closing spring on the inside of the battery cover (see images below) sticks out beyond its regular position, if a battery is put into these cameras and the battery cover is closed, it causes a short-circuit and the following phenomena occur:

1) The bottom of the camera becomes extremely hot near the battery cover.

2) Batteries that are loaded are depleted quickly.

3) The number of shots that can be taken becomes extremely small.

Affected Cameras
PowerShot A530, PowerShot A540 Digital Cameras

Please check the first two numbers from the left in the serial number listed on the bottom of the camera.

The serial number: Cameras with “21”, “22”, “23”, “24”, as the first two numbers from the left.

For cameras with the serial numbers listed above, please open the battery cover and check the hinge part.

Cameras in which the opening/closing spring sticks out like in the ones shown in the images below are affected by this malfunction.

Warning: The opening/closing spring and the metal parts on the inside of the battery cover become extremely hot. So to avoid burns, please DO NOT TOUCH THEM.

Canon Support
PowerShot A530 and A540 digital cameras affected by this phenomenon will be repaired free of charge, regardless of warranty status. Accordingly, if the opening/closing spring on the inside of the battery cover of your PowerShot A530 or A540 digital camera sticks out, please do not use the camera. Instead, please contact a Canon call center (at the toll-free number below) at your earliest convenience.

Contact Information for Inquiries
Call Center
1-800-828-4040 (toll free)
8AM - Midnight - Monday to Friday
10AM - 8PM - Saturdays
Email: carecenter@cits.canon.com

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Dec 26: Did You Get a Digital Camera for Christmas?

If you got a digital camera for Christmas and are looking for some tips on how to use it check out some of the following tutorials at Digital Photography School.

Using Your Camera

Introduction to Exposure - How to Get Out of Auto Mode

Composition

Techniques and How To's

Equipment

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Dec 26: Best Digital Cameras

What is the best Digital Camera? Which Digital Camera should I buy?

In an attempt to help people find the best digital camera I tend to answer them in three ways:

1. My personal Digital Camera Reviews and Recommendations

Best-Digital-Camera-Tm-1Point and Shoot Camera wise I tend to recommend the Fujifilm FinePix F30 (compare prices on the F30 here) for many users who want a nice compact camera for everyday shooting, particularly in low light. For a larger point and shoot with a larger zoom I'm partial to the Canon Powershot S3 IS which I really enjoyed using for a few weeks a couple of months back.

For DSLRs I'm generally recommending Canon's DSLR range which is all good ranging from the Get the latest price on the Canon Digital Rebel XT (350D) at the base end (I've heard good things about the Rebel XTi 10.1 (the 400D) through to the Canon EOS 30D (pictured) for an intermediate DSLR through to the Canon EOS 5D for very serious amateurs.

2. What Digital Cameras are Other Buying?

I am fortunate enough to get a list each month from Amazon with a summary of what digital cameras readers of my sites are buying. Here's the best/biggest sellers of the 3rd quarter of 2006 (July - September).

  1. Canon PowerShot Pro Series S3 IS 6MP - a 6 megapixel camera with a nice long 12x Optical Zoom. Highly rated by many. Compare prices.
  2. Canon EOS 30D Digital SLR - the upgrade of the popular 20D this DSLR is fast becoming one of the most popular cameras going around. I've tested this 8MP camera and am a big fan. Research best Prices on the 30D.
  3. Canon PowerShot A530 - This 5MP camera features a 4x Optical Zoom (a nice extension on the many 3x zoom cameras available) and is one of the more affordable cameras going around (that retains quality). Compare prices on the A530.
  4. Kodak EasyShare Z760 - A 6.1MP camera with a 3x Optical Zoom. Check best prices on the Z760.
  5. Pentax Optio M10 6MP - another 6.1MP camera with 3x Optical Zoom. Fairly entry level and affordable. Find prices on the M10.
  6. Olympus FE-115 - 5 megapixels, 2.8x optical Zoom and you can get it online for around $100 USD. Compare prices on the FE-115.
  7. FujiFilm A340 4MP - another very entry level camera with 4MP and a 3x Optical Zoom. Compare prices on the A340.
  8. Nikon D200 10.2MP Digital SLR - a very nice and critically acclaimed DSLR. It has 10.2 MP and a nice large LCD, built in flash and all the features you'd expect of a camera of this quality. Get best prices on the Nikon D200.
  9. Canon Powershot S2 IS 5MP - The very popular camera that proceeded the S3 IS (above). Still popular in it's own right it has 5MP and a large 12x Optical Zoom (with image stabilization). Compare prices on the S2 IS.
  10. Fujifilm Finepix S5200 5.1MP - another camera with a lovely long lens (10x Optical Zoom). Compare prices on the S5200.

3. What Digital Cameras are others Using?

Recently I came across an interesting list of the top cameras used by Flickr users here (Flickr is a photo sharing site).

The top 10 Cameras used by Flickr users are:

  1. Canon Digital Rebel XT 8MP Digital SLR - entry level (but still high quality) DSLR with 8MP and some great features. Excellent camera if you're upgrading to a DSLR on a budget. Compare prices on the Canon Rebel XT (350D).
  2. Nikon D50 6.1MP Digital SLR - another entry level DSLR from Nikon (get the best price on the Nikon D50).
  3. Canon EOS 20D 8.2MP Digital SLR - my camera for the last couple of years. Still popular but really superseded by the 30D. It's still available though and a favorite of many. Get a price on the 20D.
  4. Nikon D70S 6.1MP - 6MP DSLR with 2 inch LCD and built in flash. Nikon make some nice cameras including this one. Research prices on the D70s.
  5. Canon EOS 30D 8.2MP Digital SLR - the upgrade of the popular 20D this DSLR is fast becoming one of the most popular cameras going around. I've tested this 8MP camera and am a big fan. Compare Prices on the 30D.
  6. Nikon D200 10.2MP Digital SLR - a very nice and critically acclaimed DSLR. It has 10.2 MP and a nice large LCD, built in flash and all the features you'd expect of a camera of this quality. Compare prices on the Nikon D200.
  7. Canon EOS 6.3MP Digital Rebel - another entry level DSLR from Canon. Replaced by the Rebel XT above though.
  8. Canon Powershot S2 IS 5MP - The very popular camera that proceeded the S3 IS (above). Still popular in it's own right it has 5MP and a large 12x Optical Zoom (with image stabilization). Compare prices on the S2 IS.
  9. Sony Cybershot DSC P200 - 7.2MP point and shoot with a 3x Optical Zoom lens.
  10. Canon Powershot A620 - 7MPMP with a 4x Optical Zoom. A good solid performer. Compare A620 prices.

(note: duplicates were deleted from the original list as some cameras were listed twice under different model numbers).

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Dec 25: Digital Camera Sales May Hit New Record

6 months ago analysts predicted a slowdown in the digital camera market but retails are reporting quite the opposite in reaction to continued lower prices on new models being released by manufactures. US sales are approaching record levels and having chatted with some Australian and New Zealand retailers in the last couple of weeks the trends seem to be global.

"U.S. sales of digital cameras have beaten expectations so far this year and are poised to hit a record as lower prices encourage consumers to buy a more-powerful second or third camera this holiday season, the NPD market research group said on Wednesday.

Unit shipments of digital cameras rose 24 percent through the end of November, which includes "Black Friday" sales and the traditional first week of the holiday shopping season, NPD said. Similar sales last year grew by 22 percent.

The surprising strength in the filmless cameras comes despite experts' projections one year ago that demand would start to slow — to perhaps about 20 percent in 2006 — as fewer consumers looked to replace older film cameras."

Read more at U.S. Digital Camera Sales May Hit New Record

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Dec 23: Samsung Digimax D103

Samsung-D103Samsung Digimax D103 Specifications

  • 10.1 Megapixels
  • Optical 3x Zoom
  • Large 2.5" LCD
  • Easy Grip
  • ISO 1000
  • Powerful movie functions (MPEG-4 VGA 30fps)
  • 4cm Macro & Auto macro
  • Manual Functions
  • User-friendly “Effect” button
  • Quick Print button
  • Cradle Charging System(Optional)

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Dec 23: Leica Digilux 3 Review at Digital Camera Review

Leica-Digilux-3 Digital Camera Review reviews the Leica Digilux 3 and writes - 'Overall I am very impressed with this camera. The image quality is excellent and the camera works well. As far as lenses go this is by far the best in class (kit lenses) I also liked the ergonomics/styling of the camera for the most part. I like the retro controls, so much more fun than pushing buttons and navigating menus. So much more Leica, gives it a somewhat mechanical feel which I love. However I will also admit that it was a bit heavy/bulky requiring two hands to operate and even then could be tiring to use for prolonged periods but probably partly because of this, it’s built like a tank! This is the SLR for Leica fans or for anyone wanting top of the line equipment the only place this camera falls short is battery life (somewhat) lens choices (just the kit thus far) and price. And to be picky the noise could be improved. However if I had to choose between this and a Canon or Nikon I would strive to get the Leica. (or its Panasonic sibling for less $$)'

Read more about the Leica Digilux 3

Compare prices on the Leica Digilux 3

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Dec 23: Canon Powershot G7 Review at PhotographyBLOG

Canon-Powershot-G7 PhotographyBLOG review the Canon Powershot G7 where they write - 'The Canon Powershot G7 is the kind of camera that not only makes you feel like a better photographer, but helps you become one too, mixing both comprehensive and happily reliable hand holding features with a plethora of real photographic controls that, along with build quality, at times exceeds that offered by many – if not most – budget DSLRs. OK, so some may bemoan the loss of RAW capture (and another annoyance is that the full manual is only on CD), but to be honest it wasn't something that concerned me greatly, and I'm guessing most of the target audience for this camera will probably already own a DSLR with that feature anyway. This model handles well, and feels like its built to last more than six months – indeed it's one of the weightiest, most brick-like compacts out there for the amateur market. Yet you can still slot it comfortably into an inside coat pocket, meaning, unlike a DSLR, it's also a carry anywhere device.'

Read more reviews of the Canon Powershot G7

Compare Prices of the Canon Powershot G7 and get the latest price on the Canon PowerShot G7 at Amazon.

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Dec 23: Pentax Optio M20 Review at Digital Camera Info

Pentax-Optio-M20 Digital Camera Info reviews the Pentax Optio M20 and writes - 'While there are a few problems to consider with this camera - questionable flash positioning and a rubber flap that exposes the batteries and memory card - the camera is competitively priced for the market. With significant resolution, average image quality, in-camera editing options, and a general design that promotes ease of use, the M20 is a reasonable candidate for point-and-shooters looking to stay below the $200 mark.'

Read more about the Pentax Optio M20

Compare prices on the Pentax Optio M20 and get the latest price on the Pentax Optio M20

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Dec 23: Nikon D40 Review at DP Review

Nikon-D40-1DP Review posts their review of the Nikon D40 where they give it a rating of highly recommended and write - 'The D40 is perhaps one of Nikon's most important digital SLRs. It's certainly their smallest and lightest, their most affordable and ships with a fairly decent kit lens too. But noteworthy is the fact that it's their first digital SLR not to provide Auto Focus to their large range of lenses which do not have built-in AF motors. This was a move which in the grand scheme of things was not unexpected and although disappointing to some is unlikely to be of too much consequence for the average D40 buyer (those with more specific lens requirements are expected to go for the D80).'

Read more reviews of the Nikon D40

Compare prices on the Nikon D40 and get the latest price on the Nikon D40 at Amazon

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Dec 23: Canon PowerShot A640 Review at DP Review

Canon-Powershot-A640DP Review have posted their review of the Canon PowerShot A640 where they give it a rating of highly recommended and write - 'Compared to the other 10MP compact cameras on the market the A640 is an easy choice; there is little if any direct competition. What's interesting is that for many users the A640 is a serious alternative to Canon's own flagship G7 (which will set you back over $100 more). If you don't need the extra zoom (where the G7's image stabilization is useful) or flash hot shoe, you can get near-identical results from each camera, and there are areas where the A640 actually outperforms the G7. For anyone who prefers to do their own noise reduction processing the A640 is a better choice at higher ISO settings, where the noise and detail retention are both higher. The G7 might be more stylish and have a much better screen, and it certainly makes its huge feature set a lot easier to control, but image quality is - all things considered - pretty much a dead heat.'

Read more reviews of the Canon PowerShot A640

Compare prices on the Canon Powershot A640 and get the latest price on the Canon PowerShot A640 at Amazon.

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Dec 23: Kodak EasyShare C743 Review at CNET

CNET reviews the Kodak EasyShare C743 and gives it a raint of 5.6 out of 10. They write - 'Budget cameras are a dime a dozen these days, and without high-quality photos or unique capabilities, it's easy for these sub-$200 shooters to fall between the cracks. Of course, without a major flaw it's hard for a sub-$200 camera to really screw up, either. The Kodak EasyShare C743 is one such mediocre camera. It doesn't offer any notable benefits, but its flaws, while irritating, aren't enough to render it completely useless.'

Read more about the Kodak EasyShare C743

Compare prices on the Kodak EasyShare C743

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Dec 23: Kodak EasyShare C875 Review at DCRP

Kodak-C875 DCRP reviews the Kodak EasyShare C875 and writes - 'Camera performance was about average. It takes 2.7 seconds after you turn the camera on before you can start taking pictures, which is on the slow side. The camera focuses fairly quickly at the wide end of the lens, but telephoto delays can exceed a second. Low light focusing was just so-so for a camera with an AF-assist lamp. Thankfully, shutter lag was not a problem, and shot-to-shot delays were minimal. The C875's continuous shooting mode was just okay -- nothing to write home about. Battery life was about average.'

Read more reviews of the Kodak EasyShare C875

Compare prices on the Kodak Easyshare C875 and get the latest price on the Kodak EasyShare C875

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Dec 21: Pentax and Hoya to Merge

Today it was announced that Pentax and Hoya will be merging. The new company will be called Hoya Pentax HD Corporation with Pentax president and CEO Fumio Urano becoming Chairman of the new board and current Hoya President and CEO Hioshi Suzuki becoming President and CEO of the new company.

This mere will be finalized at the start of next October.

Pentax Press Release

HOYA and PENTAX Reach Basic Understanding for Management Integration

[TOKYO December 21, 2006] HOYA CORPORATION (“HOYA”) and PENTAX Corporation (“PENTAX”) announced today that they have reached a basic understanding aimed at a management integration of the two companies, expected to be completed on October 1, 2007. The new company’s name will be HOYA PENTAX HD Corporation. Under a corporate center with strategic planning functions, the new company will realign the business areas of HOYA and PENTAX. HOYA and PENTAX have recognized that they are the best possible business partners to establish a solid business structure that draws on their respective strengths. Through this management integration, the planned new structure will allow the new company to swiftly allocate significant management resources to develop strategic business areas, aiming at accelerating future growth.

1. Purpose of Management Integration
In an integration of equals, HOYA and PENTAX aim to enhance customer and shareholder value. The parties aim to achieve this through the establishment of a solid management foundation that will draw on the complementary managerial resources of the two companies to create synergies and accelerate business growth.

The common core technological platform for HOYA and PENTAX is grounded in optics, imaging and materials. Using this core platform, the two companies aim to optimize their business portfolios, focusing on the life care, optics, information technology, eye care and imaging systems areas. Expected stable revenue from the information technology and eye care areas will support the life care area to achieve strategic growth. In addition, vertical integration of the optics areas will lead to qualitative structural reform and further strengthen competitiveness.

The divisions of the new company are expected to be as follows:
• Life care area: (Major products include: endoscopes, medical accessories, new ceramics, and intraocular lenses) Life care is positioned as a strategic growth area. HOYA and PENTAX will pursue business development in the minimally invasive medical area where future demand is expected to grow. The newly integrated company will operate in areas which range from diagnostic to treatment fields, such as minimally invasive diagnosis using endoscopes and treatment using endoscopes and ancillary surgical devices, and will focus on globally cultivating bionic material markets including new ceramics and intraocular lenses. In addition, HOYA and PENTAX will enhance product development capabilities through aggressive research and development and mergers and acquisitions strategies and will strengthen sales and marketing structures in Japan and overseas. Through these measures, HOYA and PENTAX aim to double the size of their life care business.

• Optics area: (Major products include: optical glass and lenses, digital camera modules, micro-lenses, etc.) HOYA and PENTAX will vertically integrate the design, materials, lenses, processing and module groups in the optics area, which is expected to lead to qualitative structural reform and further strengthen competitiveness. HOYA and PENTAX will mutually utilize their respective manufacturing sites and customer bases, in order to secure a competitive edge against newly emerging Asian players and strongly position themselves for sustainable growth in the face of structural change in the optics industry.

• Information technology area: (Major products include: mask blanks, glass disk substrates, etc.) This is a core earnings driver where HOYA has secured a leading market position globally. The integrated company aims to further strengthen competitiveness and growth in this area.

• Eye care area: (Major products include: eyeglass lenses, contact lenses) Stable earnings growth is expected in this business. Positioning this business as another core earnings driver, the new company will continue to further strengthen competitiveness and further grow this business area.

• Imaging systems area: (Major products include: digital cameras, binoculars, etc.) In order to enhance business value, the new company will differentiate its offerings by specializing in high-value added products with unique technology and will focus on areas where it has a competitive edge. This area will be positioned as a foundation for development of new optical-related equipment and is expected to diversify into the life care and security business areas.

• New areas, other areas: (Major products include: business systems equipment, survey equipment, etc.) HOYA and PENTAX seek to invest aggressively in areas where they see future earnings growth opportunities. At the same time, they will focus on selected business areas to improve efficiency and to achieve optimal usage of managerial resources.

2. Background to the Management Integration Plan
HOYA started as an optical glass manufacturer. Since its inception, the company has been diversifying its business by leveraging its optical materials technologies and precision processing technologies. HOYA has successfully built global niche market positions through its aggressive technological innovation and has established leadership in its areas of expertise, resulting in strong earnings. In the information technology area, HOYA has maintained a leading position globally for its semiconductor-related mask blanks and glass disk substrates for hard disk drives, and it is positioned as one of the leading manufacturers in optical glass and lenses. The company has also established a leading position in the eye care area, including in eyeglass lenses. HOYA continues to cultivate new business areas, in particular medical-related areas which are positioned as mid- to long-term core growth drivers, and has initiated global business development of intraocular lenses used for the surgical treatment of cataracts.

PENTAX’s expertise stems from its long-accumulated know-how attained through the development and manufacturing of cameras and lenses. The company has successfully adapted its optical design and image processing technology for use in a variety of product areas and has developed businesses based on this optical technology. In the life care business, PENTAX has made early progress in developing a leading global position in the production of endoscopes, and it is also marketing globally various other products such as medical accessories and new ceramics for bone grafts. In its optical components business, PENTAX has leveraged its competitive edge in advanced optical technologies, where its major products include digital camera modules and DVD/CD convertible pickup lenses. PENTAX has also built a strong global brand in its imaging systems division, and the company has positioned the life care area as the focus for its mid- to long-term growth strategy. PENTAX has been working to ensure earnings improvement and company-wide growth through mergers and acquisitions, alliances and aggressive research and development activities.

While the market for advanced medical products has been growing globally with further growth expected, competition has also been intensifying. HOYA and PENTAX have been developing advanced medical products including endoscope diagnostics, minimally invasive surgical technologies, and bionic materials including new ceramics and intraocular lenses. In order to continue delivering growth in this market, it is critical that HOYA and PENTAX leverage their respective competitive advantages and make aggressive investments through mergers and acquisitions and research and development, as well as establish global sales and marketing networks at the earliest possible stage.

Significant structural changes have occurred in optical equipment and related materials since the emergence of digital cameras. Competitors in Asia have grown rapidly and are expected to continue gaining market share through low price campaigns and increasing the added value of their products. Along with existing camera manufacturers, home appliance makers have also entered the digital camera market, further intensifying competition in this segment. In order to maintain growth capabilities, cost competitiveness must be strengthened by lowering production costs and focusing on unique, high-end products. Measured structural change is necessary to ensure differentiation in this environment.

Based on the recognition that HOYA and PENTAX are the best possible business partners to establish a solid business structure that draws on their respective strengths, the two companies have reached a basic understanding aimed at management integration. Through this management integration, the planned new structure will allow the integrated company to swiftly allocate significant management resources to develop strategic business areas, aiming at future growth.

3. Method of Management Integration
Under the terms of the basic understanding announced today HOYA will be the surviving company.

4. Management Integration Timing
The merger of the two companies is planned to become effective as of October 1, 2007.

5. New Company Name
After the management integration, the new company will be named HOYA PENTAX HD Corporation.

6. New Company Structure
(1) Corporate Governance
The integrated firm will be managed through a committee system under Japanese Company Law to ensure strong corporate governance. The board will consist of 10 directors, five of whom will be non-executive directors, further reinforcing management transparency. Three of the executive directors will be appointed from HOYA and the others from PENTAX.

Fumio Urano (current PENTAX President & CEO) will become Chairman of the Board and Hiroshi Suzuki (current HOYA President and CEO) will become President & CEO.

(2) Organizational Structure
The structure of the integrated firm will be based on the concept of a small headquarters with empowered business divisions. Allowing for an appropriate transition period, the new company is expected to have a corporate center with strategic planning functions and the business divisions outlined below. Moreover, the newly integrated company will continue to make the best possible use of the respective brands of both HOYA and PENTAX.

• Life care area: Combining HOYA’s medical division and PENTAX’s life care division
• Optics area: Combining HOYA’s optics division and PENTAX’s optical components division
• Information technology area: The remaining business after separating HOYA’s optics division from the electro-optics area
• Eye care area: The remaining business after separating HOYA’s medical division from the eye care division
• Imaging systems area: Continuing PENTAX’s imaging systems division
• New areas, other areas: Continuing other existing divisions
• Research and development: Integrating HOYA’s research and development center and PENTAX’s research and development division

7. Merger Ratio
Each shareholder of PENTAX common stock will be allotted 0.158 shares of HOYA common stock per PENTAX share.

In order to achieve fairness, the parties received advice from third party advisers in respect of the determination of the merger ratio. HOYA was advised by UBS Securities Japan Ltd. (“UBS Investment Bank”), and PENTAX was advised by Morgan Stanley Japan Securities Co., Ltd., (“Morgan Stanley”) for the basis of the merger ratio calculation. Both companies have discussed the results presented by the financial advisors, and settled at the ratio announced today.

Both financial advisors used a combination of average market price analysis, discounted cash flow analysis, comparable trading multiples analysis and other methods, respectively, to calculate the merger ratio.

Based on these analyses, HOYA obtained a fairness opinion from UBS Investment Bank, and PENTAX from Morgan Stanley, regarding the merger ratio from a financial point of view.

Neither UBS Investment Bank nor Morgan Stanley are related parties of HOYA and PENTAX.

This ratio is subject to change if there is a material change in the conditions which were used as fundamentals in the calculation.

8. Schedule
HOYA and PENTAX intend to continue discussions to conclude a definitive agreement on the management integration in early April 2007. The expected schedule is outlined below. However, as discussions proceed, if exceptional circumstances arise, the two companies may decide to change the schedule or the method of integration in their effort to achieve management integration.

(1) Early April 2007: Signing of definitive agreement
(2) Middle of June 2007: HOYA will hold an Annual General Meeting of Shareholders where it will seek approval for proposed changes in the company articles of incorporation and the board of directors
(3) End of June 2007: PENTAX will hold an Annual General Meeting of Shareholders where shareholders will be asked to approve the merger agreement
(4) October 1, 2007: Effective merger date
(5) TBA: Delivery to PENTAX shareholders of shares in the new company

Under Article 796, Clause 3, of the Japanese Company Law, HOYA is not required to receive shareholders’ approval for the merger.

9. Structure for Proceeding with the Management Integration
HOYA and PENTAX will form an integration committee, co-chaired by Fumio Urano, President & CEO of PENTAX, and Hiroshi Suzuki, President and CEO of HOYA, to ensure swift and smooth integration of the management and operations of the newly integrated company. The integration committee will review the administrative systems of each company, aiming at creating a best-practice administrative system for the newly integrated company.

10. Accounting Policies
Accounting treatment associated with the merger will be disclosed when definitively determined. The exact amount of goodwill, the probability of accrual, and the amortization period have yet to be determined, and will be disclosed in due course.

11. Expected Impact on Earnings Forecasts as a Result of Merger
The newly integrated company aims to strengthen the competitiveness of each business area and to maintain the rate of growth of corporate value.

12. Other
The newly integrated company will continue the listing status of HOYA on the First Section of the Tokyo Stock Exchange. Information regarding the new company headquarters, total assets, paid-in capital, the number of shares newly issued upon the merger, and treatment of warrants and convertible bonds issued by PENTAX, will be provided when such matters are determined.

13. Overview of the Integrating Companies (as of September 30, 2006, non consolidated basis)
(1) Company Name
HOYA CORPORATION
(merging company)
PENTAX Corporation
(company to be merged)
(2)
Areas of Business
Manufacturing and sales of electro-optics, eye care, and health care products Manufacturing and sales of life care, imaging systems, and optical component products
(3) Established August 23, 1944 December 17, 1938
(4) Headquarters 2-7-5 Naka-Ochiai, Shinjuku-ku, Tokyo 2-36-9 Maeno-cho, Itabashi-ku, Tokyo
(5) Representative Hiroshi Suzuki, President & CEO Fumio Urano, President & CEO
(6) Paid-in Capital 6,264 million yen 7,510 million yen
(7)Shares Outstanding 435,017,020 127,697,952
(8)Shareholders’ Equity 102,330 million yen 40,088 million yen
(9) Total Assets 236,504 million yen 119,570 million yen
(10) Fiscal Year End: March 31 March 31
(11)Number of Employees 3,338 (27,974 on a consolidated basis) 1,336 (5,651 on a consolidated basis)

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Dec 17: Canon Powershot G7 Review at Steves Digicams

Canon-Powershot-G7Steves Digicams reviews the Canon Powershot G7 and writes - 'I was very pleased with this latest addition to Canon's legendary "G" series line. While we miss the Vari-Angle LCD, the new 6x IS lens is a definite plus. The only negative issues we found were the problem with the optical viewfinder and the higher image noise at ISO 800 and 1600. That said, the G7 is a good choice for the beginner, novice, or enthusiast that wants a less bulky alternative to carrying around a dSLR and a bag of lenses. With an MSRP of around US$599 the G7 offers an outstanding value that will be hard to beat this holiday season.'

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Dec 17: Pentax K100D Digial SLR Review at TrustedReviews

Pentax-K100D-DslrTrusted Reviews has posted their review of the Pentax K100D Digial SLR and writes - 'It may be the cheapest DSLR on the market, but the Pentax K100D isn’t short of advanced features, performance or image quality, and can comfortably hold its own against the Nikon D40. Build quality, design and handling are all superb, and the Shake Reduction system is as good as any on the market. If you're looking for a good entry-level DSLR with the option to build up a kit, then look no further.'

Digicam Review also reviews the Pentax K100D and writes - 'Image quality is excellent, the images have very good colour, with good contrast and detail, with low noise except at the highest ISO settings (ISO1600 and ISO3200). Images were slightly smoothed but this is adjustable within the camera, and detail was very good. Purple fringing was very low with the kit lens, and red-eye was not a problem. The camera was very competent at focusing (except on very plain or dark surfaces). Vignetting in photos was very mild and I did not notice barrel or pincushion distortion. There is a good range of image sizes, and the compression options include a RAW mode. Auto white balance, metering, and exposure seemed to be good to very good, although auto-white balance did struggle in doors (as with most DSLRs). The camera gives very good control over image quality - pressing the menu button lets you change saturation, sharpness, contrast, gamma curve etc. Shake Reduction adds image stabilisation to every lens attached to the camera, and helps acheive blure free photos in low light meaning that the camera has a very good photo success rate.'

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Dec 15: Announcing Digital Photography School Forums - Win Prizes by Participating

DPB's sister site, Digital Photography School, today announced a brand new design and the launch of Forums.

These forums came as a result of a lot of feedback from readers that they wanted a place to:

  • Share their digital photos
  • Work on common assignments
  • Talk about what they were learning
  • Ask questions of other digital photographers
  • Submit reviews of cameras and lenses
  • Read the opinion of other real users of cameras that they were considering buying
  • Get to know other Digital Photographers

As a result the Digital Photography School Forum was launched today.

I'd like to invite you to head over and join in the great discussion already happening in the forums.

We already have 120 members, 270+ posts and 34 threads of conversation happening.

If you register as a user and become active (posting at least 5 comments between now and the end of the year) you'll go in the running to win some of my favorite digital photography books.

One lucky registrant will win their choice of 5 of the following books and 10 others will win their choice of 1 of the following books:

  1. The Digital Photography Book by Scott Kelby
  2. 2. Understanding Exposure: How to Shoot Great Photographsby Bryan Peterson
  3. 3. Digital SLR Pro Secrets by David Busch
  4. 4. Complete Digital Photography by Ben Long
  5. 5. Perfect Digital Photography by Jay Dickman
  6. 6. The Complete Guide to Night and Low-Light Photography by Lee Frost
  7. 7. Digital Macro Photography by Ross Hoddinott
  8. 8. Mastering Digital SLR Photography by David Busch
  9. 9. Photoshop Finishing Touches by Dave Cross
  10. 10. The Photoshop Channels Book by Scott Kelby

To be eligible you need to meet two conditions.

  1. Firstly you need to be a registered member of the forums
  2. Secondly you need to have made at least 5 genuine posts/comments in the forums before the end of the year. By 'genuine' I mean comments that actually contribute in some way (ie not spammy comments). They could be an introduction in the intro thread, a submission in an assignment, a comment on your digital camera in the digital camera section, a question in the techniques area, an answer to someone else's question.

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Dec 15: Canon EF 17-40mm f/4L USM Lens

Canon-17-40MmCamera Labs review the Canon EF 17-40mm f/4L USM Lens and gives it a rating of 83%. They write - 'The EF 17-40mm f/4.0L is one of the best lenses in Canon’s range. It brings you a taste of the truly exotic with ultra-wide coverage, while boasting ‘L’ quality all at a surprisingly affordable price. Sure it ain’t exactly cheap, but it’s considerably more affordable than the EF 24-105mm f/4.0L and almost half the price of the EF 16-35mm f/2.8L.... So the Canon EF 17-40mm f/4.0L comes Highly Recommended both for full-frame body owners, along with those who have APS-C bodies and are thinking of upgrading to full-frame in the future - see our 400D lens upgrade group test. It may not be as flexible as the EF 24-105mm, but it's much more exciting and cheaper too. Put it this way, if you’re into wide angle photography with a full-frame body and don’t already have the EF 16-35mm, we’d say it’s a mandatory purchase.'

Get a Price on the Canon EF 17-40mm f/4L USM Ultra Wide Angle Zoom Lens for Canon SLR Cameras

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Dec 15: Olympus E400 DSLR Review at Pocket-Lint

Olympus-E-400 Pocket-Lint review the Olympus E400 DSLR and give it a rating of 9 out of 10. They write - 'In a camera replete with so much clever stuff, you’d be forgiven for expecting a much bigger device. Until you hold the camera however, it is not immediately apparent just how svelte the E400 really is. But one worry I have is the price; it is not svelte by any standard. The E400 twin lens kit it is to be sold in includes the lens tested here plus a very compact 40 to 150mm (80 to 300mm in 35mm terms) lens for around £850. This is far too expensive for an “entry level” model and particularly so when there are cheaper 10-megapixel models on the shop shelves already, which would be a shame because it will prevent many people from buying this camera when they should, because I can heartily recommend this camera to all those who might consider it.'

Read more about the Olympus E400

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Dec 15: Olympus Stylus 740 Review at Image Resource

Olympus-Stylus-740 Imaging Resource have a review of the Olympus Stylus 740 Digital Camera where they write - 'Like its stable mate Stylus 750, the Olympus Stylus 740 has stunningly good looks, but I was disappointed in its performance. Color just seemed unnatural and I came home with far too many blurry images for a camera that has image stabilization. I really wondered if the review unit was just malfunctioning. But it wasn't a mechanical issue. The thumbnails were very blurred, even when the image itself was not. Our laboratory test shots reveal terrible problems with focus across the frame, so it wasn't just me. The Olympus Stylus 740 shows some of the worst lens performance we've seen in a modern digicam.'

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Dec 15: Sony DSLR-A100 Review at Megapixel.net

Sony-Alpha-A100 Megapixel review the Sony DSLR-A100 and writes - 'With an attractive price, the 10-megapixel Alpha 100 is deserving of the attention it has received. Purchased as a kit with one or two lenses, the Alpha is immediately useable, and will produce high quality photos at all but the widest angle of the 18 - 70 mm lens. Moreover, with its numerous advanced features and full compatibility with a wide number of Minolta A mount lenses in addition to the upcoming Carl Zeiss designed Sony lenses, the Alpha 100 should prove to be one of the most popular entry-level DSLR cameras.'

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Dec 15: Ricoh Caplio 500G Wide Review at Pocket Lint

Ricoh-Caplio-500G Pocket Lint reviews the Ricoh Caplio 500G Wide digital camera where they give it a rating of 8 out of 10 and write - 'The Ricoh Caplio 500G Wide provides a tough package in terms of build, ease of use and versatility. Image quality is good thanks to a nice lens, fast, accurate focusing and good metering with the caveat on image noise at higher sensitivities. The optical viewfinder leaves a bit to be desired as does the overall clunky look of the camera, but when you bear in mind this camera is more tool than tasty-looking technology.'

Read more about the Ricoh Caplio 500G

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Dec 14: Kodak EasyShare C875 Review by PC Magazine

Kodak-C875 PC Mag reviews the Kodak EasyShare C875 and writes - 'In my experience, Kodak has consistently offered well-performing point-and-shoot devices, and I was happy to see very little noticeable shutter lag in the C875. Resolution averaged 1,850 lines, which is excellent for an 8MP camera. The bootup time was a respectable 3 seconds, and the 1.7-second recycle time was excellent. There was no pincushion distortion in my test shot, but there was a little more barrel distortion than I'd like to see, especially with just a 37mm wide-angle end of the zoom.'

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Dec 14: Canon PowerShot G7 Review at Trusted Reviews

Canon-Powershot-G7 Trusted Reviews has reviewed the Canon PowerShot G7 and writes - 'While the G7 is unquestionably a superb camera, head and shoulders above anything else at the same size or price, the slower lens, smaller profile and lack of RAW mode will deter many potential buyers from trading in their G6. Instead of the best semi-pro camera on the market, Canon has produced a well specified general purpose camera that will appeal to the more ambitious casual user, rather than as an SLR-alternative for the serious hobbyist.'

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Dec 14: Nikon Coolpix S9 Review at Imaging Resource

Nikon-Coolpix-S9 Imaging Resource has reviewed the Nikon Coolpix S9 where they write - 'Though the attractive and slender Nikon Coolpix S9 looks a lot like its more expensive S-series counterparts, Nikon has cut corners on this model and made it significantly inferior. For one, this 6-megapixel camera produced excessively noisy images, especially when shooting at ISO 400. Shots I took of a bride and groom saying their wedding vows under a shady tree were riddled with chroma noise at ISO 400, especially in the groom's black suit jacket. Though the camera fared much better in brighter, daylight conditions, it had a tendency to overexpose images, so much so I had to crank exposure compensation down nearly half a stop to prevent blowing out highlights.'

Read more about the Nikon Coolpix S9

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Dec 14: Nikon Coolpix L5 Review t PhotographyBLOG

Nikon-Coolpix-L5 PhotographyBLOG review the Nikon Coolpix L5 where they give it a rating of 4 out of 5 and write - 'The Nikon Coolpix L5 compact camera has a very similar feature set to its brother, the L6, which I reviewed at the same time. Of course, the extra zoom range, resolution and the inclusion of VR technology developed for Nikon's DSLR range puts the L5 ahead of its lesser specified brother on first look. That said, the L6 impressed me in terms of its image quality, which may have partly been down to the fact that I wasn't expecting great things. The L6 is better suited to daylight photography, however, with that wobbly hand icon making quite a number of appearances when skies were any less than blue in hue, leading me to conclude that the L5 is indeed the preferred all-round option for a pocket snapshot camera, even if its design is bulkier and more clunky. The ability to access such hand-holding features as Face Priority AF at the touch of a button on the L5 rather than sift through screen menus is a bonus, but in truth otherwise there's not much to choose between the two cameras. Although there are better designed and sleeker compacts out there offering similar specification and performance, the Nikon Coolpix L5 serves the point and shoot amateur market for which it's intended, and is a more than acceptable marriage of price to build to performance.'

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Dec 14: Nikon Coolpix S7c Review at Imaging Resource

Nikon-Coolpix-S7C Imaging Resource has posted a review of the Nikon Coolpix S7c where they write - 'Between capture and playback, the S7c provides a lot of picture-taking intelligence. The ED glass makes the most of the S7c's small lens. The Feature System provides Nikon exclusives like face detection auto focusing, in-camera red-eye removal, and D-Lighting. The Scene modes are easily accessed, especially Portrait, which has its own button. Everything else is fun to find with the new rotary multi-selector. In short, it's a smart choice -- and therefore a Dave's Pick.'

Read more about the Nikon Coolpix S7c

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Dec 14: Canon Powershot SD40 Review at Steves Digicams

Canon-Powershot-Sd40 Steves Digicams reviews the Canon Powershot SD40 and writes - 'The Canon PowerShot SD40 Digital ELPH is an awesome pocket-sized digicam. That said, I feel it will make just about any user who wants an ultra-compact model, very happy by offering great image quality, robust performance, ease of use, and let's not forget the stylish and durable body that comes in four different colors. With an MSRP of about US$399, I feel it offers a good value for a model in this category.'

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Dec 14: Pentax K10D Review at PopPhoto

Pentax-K10D Popular Photography has posted their review of the Pentax K10D where they write - 'Overall image quality is Excellent throughout the ISO range. Color accuracy is Excellent. Noise is exceptionally well controlled all the way through, and Resolution is excellent at all ISOs. In fact, there is less than a 5 percent drop off in resolution from ISO 100 (1925) to ISO 1600 (1845), and noise only climbs from Very Low (1.15) to Low (1.95) from lowest to highest ISO.'

Read more about the Pentax K10D

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Dec 14: Nikon D80 Digital Camera Review at Digital Camera Info

Nikon-D80-4 Digital Camera Info reviews the Nikon D80 and writes - 'The 10-megapixel Nikon D80 is a success in a conservative way. Nikon didn’t add the dust reduction system or stabilization that many competitors are introducing this year. Still, it has most of what the D200 has for hundreds of dollars less, and adds features to woo snapshooters. It’s a solid DSLR that’s easy to use and a strong performer. It should appeal to casual shooters who aren’t price-sensitive, and some professionals who are.'

Read more about the Nikon D80

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Get the latest price on the Nikon D80 10.2MP Digital SLR Camera Kit with 18-135mm AF-S DX Zoom-Nikkor Lens

Get the latest price on the Nikon D80 10.2MP Digital SLR Camera Kit with 18-55mm ED AF-S DX Zoom-Nikkor Lens

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Dec 14: Canon A710IS Review at DP Review

Canon-Powershot-A710 DP Review has reviewed the Canon A710IS where they give it a rating of 'highly recommended' and write - 'Without the metering / clipping issues this would be an easy Highly Recommended. As it stands its unique combination of features and keen pricing just saves it from a lower rating. I wouldn't hesitate to recommend it to the more experienced photographer on a budget wanting a compact camera packed with goodies, perhaps less wholeheartedly so for the absolute beginner wanting true 'point and shoot' infallibility.'

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Dec 13: Kodak Easyshare C875 Review at Cameras.co.uk

Kodak-C875 Cameras.co.uk review the Kodak Easyshare C875 where they write - 'Digital cameras offering manual exposure controls and extra zoom, in a compact body are few and far between. On balance I like the Kodak Easyshare C875. It does well to retain good levels of ease of use and picture quality is good in most situations.... The Kodak Easyshare C875 offers a very good set of features for a compact digital camera. This includes fully manual exposure modes. Picture quality is good and one outstanding feature is the very fast shutter response times it is capable of.'

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Dec 13: Nikon Coolpix L5 Review at DCRP