The generous 2x crop factor lets Olympus produce extremely compact and cheap telezoom lenses. Unfortunately, the knife cuts both ways…which is why wide-angle lenses cost a fortune and are extremely heavy.
Traditionally, Olympus only had a 11-22mm (35mm equivalent 22-44) and a 7-14mm lens(35mm equivalent 14-28) which both were extremely expensive – the recently introduced 9-18mm lens was developed to mitigate the issue.
The little critter has just started to pop up on store shelves in Europe. As Olympus usually tries to give brick-and-mortar retailers an exclusivity period of up to 3 weeks, it should hit Amazon very soon(TamsPalm predicted launch price: 550 Euros):

Translated, the text means as much as:
Ultra-wide-angle lens for Olympus SLR cameras
35MM Equivalent 18-36mm, fast autofocus
with sun screen
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