Olympus is leaving the camera

Olympus is leaving the camera

Japanese imaging company, which makes most of the money from medical devices, Announced on Wednesday The camera will sell its business to Japan Industrial Partners, which bought VAIO from Sony in 2014.
Sales ended Olympus consumer camera business It started in 1936 when it launched the Zuiko camera. It sold its first lightweight SLR camera under the brand “OM” in 1972 and the Infinity Stylus compact point-and-shoot camera in 1991.

In 1996, Olympus launched its first digital camera – alongside competitors like Kodak and Fujifilm – helped launch the digital camera revolution with the signed Micro Four Thirds interchangeable lens system.

But smartphones have ruined the digital camera business, and Olympus’ consumer camera division has recorded operating losses in each of the past three years – even after restructuring attempts.

Olympus has long been interested in selling the camera business, which is only a small part of the company’s general assets. Still, CEO Yasuo Takeuchi reported that he had sold the camera business until November 2019.

The agreement with JIP is expected to be completed in September. Financial details of the transaction have not been disclosed yet.

Referring to JIP’s “strong historical record of supporting strategic implications”, the memorandum argues that new owners will continue to develop Olympus’ existing technologies for new products. The company did not say whether it will protect the Olympus brand.

Olympus was shaken by a series of discussions. major corporate corruption scandal In 2011 Investment loss of $ 1.5 billion and a secret payment was claimed to the Yakuza organized crime unions.
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