The Panasonic X 12-35mm, which has really only been available for a very short time, has already seen its first price drop. This doesn't come as much of a surprise, seeing as I've spent the last few days posting repeatedly about Panasonic and how the X lenses will likely be a failure.
So where are we? The 12-35mm now costs $1,099. To me, this speaks of a company that is gingerly stepping in unknown territory where they should be taking bold steps: drop it to $999. For one thing, I think that it is optically only worth about one thousand dollars. That's a personal judgment so you can accept it or not. My other point stands perfectly well, though: Panasonic needs market penetration. This will not happen with half-steps. This will not happen with greed. Attack the market. Attack the competition.
Do not be like Olympus. I have no idea how they bumbled into the 75mm and E-M5, considering that everything else they've done, and everything else that they have announced, has been incompetent. For example, in a recent interview, an Olympus rep denied any plans for m4/3 versions of their top-quality Zuiko lenses.
All that said, this price drop is an excellent idea. I don't know whether this is in response to poor market response or merely a strategic choice even before the market has a chance to react. Either way, this is a good showing on Panny's part. I think that they should drop this to $999, but $1,099 will be much more likely to experience significant uptake among pro-thusiasts.