Olympus: Olympus to shut down its 84-year-old camera business – Times of India

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Japanese optical merchandise maker Olympus Company has determined to promote its digital camera division after 84 years. The corporate stated that the imaging a part of its enterprise would go to Japan Industrial Companions, Inc. or JIP. JIP purchased the VAIO laptop computer branding rights from Sony. The Olympus Imaging Enterprise signed a memorandum of understanding with JIP. The digital camera maker shared this information on Twitter.

In response to the digital camera maker, the evolution of the smartphone has made the digital digital camera market “extraordinarily extreme”. To counter this, the corporate says that it “has improved the price construction by restructuring the manufacturing bases and specializing in high-value-added interchangeable lenses, aiming to rectify the incomes construction to those who might proceed producing revenue whilst gross sales dwindles. Regardless of all such efforts, Olympus’s Imaging enterprise recorded working losses for 3 consecutive fiscal years as much as the time period resulted in March 2020.”
As per the MOU, Olympus and JIP “can be coming into into additional discussions” in regards to the switch of the previous’s Imaging enterprise to the latter by the top of this 12 months. The Imaging enterprise would proceed functioning as earlier than whereas the discussions are being held. The corporate added that its “gross sales, service and advertising division would proceed to work laborious.” The medical tools enterprise of the corporate, nonetheless, would proceed.
Olympus’ first digital camera got here out in 1936. A number of the distinctive firm merchandise over time have been the half-frame digital camera Olympus Pen, the micro-cassette tape recorder Zuiko Pearlcorder and the mirrorless interchangeable lens digital camera sequence Olympus OM-D.
The corporate has had an inventory of rivals within the pictures business and three of them are Japanese solely: Sony, Canon and Nikon. In a world the place pictures is well getting accessible and reasonably priced due to smartphone cameras, the corporate has struggled, resulting in this choice.





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