Olympus is giving up on cameras

guest · Jun 24, 2020

Olympus is giving up on cameras
It'll be acquired by the company that bought Sony's VAIO division
June 24, 2020
https://www.engadget.com/olympus-selling-consumer-camera-business-093750446.html

Despite denying persistent rumors that it would exit the camera business, Olympus is doing exactly that.

The company has announced that will sell its camera business to Japan Industrial Partners (JIP), the same company that purchased Sony’s VAIO PC division (via The Verge). Olympus will now focus on its much larger business supplying industrial and medical equipment.
Olympus said it improved cost structure, focused on high-profit cameras and lenses and took other steps to “cope with the extremely severe digital camera market.”
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Olympus still relies exclusively on Micro Four Thirds for its interchangeable lens cameras. However, Panasonic now has its own lineup of full-frame mirrorless cameras that have attracted a lot of attention, particularly in the video market.
That gives it other options depending on what happens to Olympus, so we’ll be keeping a close on both companies over the next few months.
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