With the corporative transformation of Olympus to its new OM Digital Solutions entity and the lowering developing implication of Panasonic in that small image sensor format, it can be easily concluded that the image sensor Micro Four Third format days will be over in mid-term. But we have to not forget as it was a short but fabulous era with many good, innovate and creative camera products. In a way, the MFT (Micro Four Third) was a kind of equivalent of the mini 35mm film format for its digital time. Small camera bodies combined with small interchangeable lenses are the essence of the search of compactness.
At the beginning, the creation of the Four Third image sensor format, the ancestor of the MFT, was an industrial attempt to impose a new standard format and many manufacturers have subscribed to develop the concept further and produce interesting products. As an open standard, Fujifilm, Kodak, Leica, Olympus, Panasonic, Sanyo and Sigma initially agree to go ahead. But in 2008 Olympus and Panasonic decided to present the new Micro Four Third format that eliminate completely the use of a reflex mirror viewing system and present a mirrorless alternative. By doing this, the MFT have preceded the gradually obsolescence of the use of reflex optical viewfinders.
Because of the multi-entrepreneurship involved into the development of the MFT format, the new eco-system of cameras, lenses and accessories have grown at a relatively fast pace. Panasonic further develop very efficient hybrid photo-video models as Olympus was more oriented still photographic devices. Models such as the Panasonic GH4 and the Olympus OM-D E-M5 represent successful both commercial and artistically products that got a tangible influence over these specialized markets.
As already mentioned, the beauty of the MFT eco-system was no doubt its compactness. In a way it is a pity that other manufacturers like Canon, Nikon or Sony have never consider seriously to push its technical development especially in regard of the gradual creation of new sensors. The absence of MFT sensor development interest have eventually doomed the MFT progress. Many wrongly proclaim that the photographic smartphone abilities have equal those of the MFT system. In virtue of optical physic law, it can't be especially if you apply the same technical advancement both in hardware and software that are in use into the two comparing systems. Moreover, MFT cameras are traditionally designed as photographic (or video) tools first and it shows in their ergonomics and in their respective interfaces.
All indications are pointing that the MFT format will concentrate its future efforts into the Asian market and the videography field. Sure it is a deep lost for the photographers of the other hemisphere that are used to work with these competent, durable and versatile camera models and lenses. The choice for compact ILC (Interchangeable Lens Camera) system is now narrowed to very few manufacturers that are offering a more complete system such as Fujifilm in APS-C image sensor format.
Overtime, I had love to work with different MFT models such as the Olympus EP-3, OM-D EM-5, EM-5 Mark II, E-M1, E-M1 Mark II, Pen-F and the Panasonic GM-5, GX-7, GX-85, GX-9 and G85 and with many of the lenses from these two manufacturers. I found them inspiring, easy to bring with you, discrete and efficient photographic devices. The latest 20MP MFT image sensor version is giving high quality results despite the fact of its longer introducing age. The MFT format was the right answer to be able to offer a real "compact" digital photographic system. Nobody that had the opportunity to use more extensively the MFT system can deny its advantages on the field. However, we can easily attribute the unsuccessful industrial larger development of the MFT format to the political choices that have dictated many commercial decisions from the major manufacturers like Canon, Nikon or Sony. They have tried to maintain the interest for their obsolete D-SLR system as long as possible. In doing so, they simply dismissed the avenue of using a new image sensor standard, the MFT, in profit of a technical stagnation. Even them are paying the price today with clumsy, incomplete and expensive mirrorless new systems.
Progress is a summation of tries and errors before reaching a more mature and stable evolution. In digital photography, MFT have been (and still is) a perfect model to compactness and efficiency in traditional digital photography. I simply regret that Canon, Fujifilm, Leica, Nikon or Sony didn't try challenge Olympus and Panasonic in that respect as it has been the case during the time of the 35mm film analog era.