There’s just one Olympus camera left standing. But does the new budget OM System PEN mean the OM-D E-M10 Mark IV’s days are numbered?

The OM System lineup now only has one remaining camera that hasn't adopted the new name since the split from Olympus: the Olympus OM-D E-M10 Mark IV. However, the introduction of a new budget mirrorless camera, the OM System PEN, has led fans to question the future of the long-running E-M10 line. Earlier this year, Japanese retailers started listing the E-M10 Mark IV as discontinued, but OM System confirmed in January that the camera would still be available in the US.

Months later, the budget mirrorless remains available on OM System's official online stores in the US, UK, Australia, and Canada. Rumors suggest the E-M10 Mark IV may soon be discontinued, with one store owner reporting that they received a message indicating no replacement would be offered. OM System has not yet addressed these rumors, leaving the E-M10 Mark IV's future uncertain.

The new PEN is priced above the E-M10 Mark IV but offers weather-sealing, which the older camera lacks. Designed for outdoor use, the PEN's weather-sealing comes at a price of $999 / £849 / AU$1,499. While both cameras share a retro aesthetic, the PEN's design follows a rangefinder-inspired viewfinder placement, distinguishing it from the E-M10 Mark IV.

The PEN's autofocus system is more advanced than the E-M10 Mark IV's contrast detection system, but the cheaper camera boasts a slightly faster burst rate at 6.3 fps with continuous autofocus compared to the PEN's 5 fps. The E-M10 Mark IV has remained popular as an affordable alternative to retro compact cameras, especially considering its price point - around $200 less than popular compacts like the Fujifilm X100VI and Ricoh GR IV.

At just under the PEN's price of $999, the E-M10 Mark IV offers a more budget-friendly option, particularly when paired with a kit lens.