Info on "Grey Market" Olympus cameras.

I could be wrong, but my understanding is that "gray market" gear has less to do with the quality of the basic camera, but the fact that they are often "body only" and shipped without the usual software bundles and/or a manual (or the manual is in a foreign language). Olympus can exercise quality control over the manufacturing process, but has no control over what happens after the camera leaves the factory.

There is nothing wrong with Grey Market cameras, they are the same as legally imported ones. The difference is that Olympus USA will not honor the warranty or perform service on a Grey Market camera if anything goes wrong with it.... in practical terms, you have no warranty. Things like manuals and software may also be in foreign languages or otherwise inconvenient.

Your last question has it more or less pegged, but there's a little more to it: since Olympus USA makes their money by importing and selling the products in the USA, they have no obligation, and frankly no intention, of giving you free service on a camera that you bought from someone else to cut them out of their livelihood. All importers have the same policy; if they didn't, they would all be bankrupt.

Richard is correct - Grey market or "Grey Import" refers to an item imported into a country by a distributor or re-seller other than the official franchise holder or factory appointed agent. It does not really apply to an item purchased by a private individual direct from a foreign supplier, but this amounts to the same thing. It has nothing to do with any quality issue. Weather or not the local official agent will honour any guarantee depends on the policy of the manufacturer. Some manufacturers will re-imburse their agents for the warranty repair of any item, no-matter where it is purchased, others, like Olympus (as far as I am aware) do not, and the local agent has to cover his own costs.

I too second Richard and Graham, a camera is not a simple commodity like a jeans or a diamond, that you can just copy using cheaper materials and adding a false sticker, but an extremely sophisticated machine, more expensive to "copy" by an underground manufacturer, than to produce by the original company.

As for the "made in Japan" issue, it seems to me that much of today's stuff, once done in Japan, is being produced, or assembled, or etc, by the same Japanese companies - but out of Japan. Is this the meaning of that high tech snoby term "outsourcing" ?

If you trust the merchant, trust the product is my rule of thumb. (link)