<p>TOKYO (Reuters) - To stem the red ink on its loss-making camera division, Olympus Corp has decided to rely on a format that so far has been a flop outside of its home turf in Japan.</p><p>The company on Tuesday released the "OM-D E-M1", a mirrorless model Olympus says is the first of its kind to compete on quality with traditional single-lens reflex (SLR) cameras.</p><p>Olympus is now hoping the E-M1, priced for the pro market at 145,000 yen ($1,500) for the body alone, will help it boost mirrorless and SLR sales by 24 percent to 7.3 million units to allow its camera business to finally break even for the first time in four years.</p><p>The new model is the successor to Olympus's E-5, its last flagship SLR released in 2010. Executives are saying there are no current plans to develop more SLRs and the new camera likely signals the company's exit from a market that is dominated by Canon Inc and Nikon Corp.</p><p><a href="http://www.reuters.com/article/2013/09/10/us-olympus-mirrorless-idUSBRE9890FM20130910">Keep reading...</a></p><p>Read also:</p><p><a href="http://reviews.cnet.com/digital-cameras/olympus-om-d-e/4505-6501_7-35827484.html">Olympus OM-D E-M1: Ready to dump your dSLR?</a> (CNET Asia)</p><p><a href="http://www.techhive.com/article/2047940/new-flagship-olympus-mirrorless-compact-camera-fits-all-lenses.html">New flagship Olympus mirrorless compact camera fits all lenses</a> (TechHive)</p><p><a href="http://www.theverge.com/2013/9/10/4712962/olympus-om-d-e-m1-micro-four-thirds-camera">The E-M1 is Olympus' new Micro Four Thirds camera powerhouse</a> (The Verge)</p><p>Explore: <a href="http://news.google.com/news/more?ncl=d3OUQY_7JK6AZbM5P7OZJx95-pRjM&ned=us">56 additional articles.</a></p>
