Olympus is getting out of the camera business

The Japanese imaging company, which makes most of its money from medical equipment, announced Wednesday it will sell its camera business to Japan Industrial Partners -- the company that acquired VAIO from Sony in 2014. The sale marks an end to of Olympus' consumer camera business that began in 1936, when it introduced the Zuiko-branded camera. It sold its first lightweight SLR camera under the"OM" brand in 1972 and its Infinity Stylus compact point-and-shoot camera in 1991.

But smartphones devastated the digital camera business, and Olympus' consumer camera division recorded operating losses in each of the last three years -- even after attempts at restructuring.Read MoreOlympus has long been rumored to be interested in selling off its camera business, which accounts for only a small portion of the company's overall holdings. Yet CEO Yasuo Takeuchi had denied reports of selling the camera business as recently as November 2019.

So Olympus becomes a collector's item. I have some.

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Olympus to Exit Camera Business After 84 YearsOlympus, which has been under pressure from U.S. shareholder ValueAct Capital to improve shareholder returns, said it planned to sell its camera unit to focus on medical devices. Shame. Olympus has made some great cameras. I completely forgot about 'Olympus' cameras until seeing this article. Wow.
Source: WSJ - 🏆 98. / 63 Read more »

Olympus to Exit Camera Business After 84 YearsOlympus, which has been under pressure from U.S. shareholder ValueAct Capital to improve shareholder returns, said it planned to sell its camera unit to focus on medical devices. Shame. Olympus has made some great cameras. I completely forgot about 'Olympus' cameras until seeing this article. Wow.
Source: WSJ - 🏆 98. / 63 Read more »