Is Ion Camera Still In Business
After a yr of rumors, denials, and backtracking, it's finally official: Olympus is exiting the camera business organisation after an 84-year run as one of the earth's nearly recognizable brands in the industry.
In a notice published to its website today, Olympus announced that information technology has signed a memorandum of understanding to sell its camera division to Japan Industrial Partners (JIP), the same investment house that acquired Sony's VAIO PC business back in 2014.
Olympus and JIP are aiming to sign a legally binding deal by September 30th.
Olympus first entered the camera industry back in 1939 past releasing the Semi-Olympus I that used the first Zuiko lens. Over the post-obit decades, the company would go on to release popular camera models, including the Pen in 1959 and the OM 35mm SLR organization that competed against the likes of Catechism and Nikon.
But in recent years, camera manufacturers like Olympus accept struggled to remain profitable as the rise of smartphone cameras acquired the standalone photographic camera market to collapse. As its camera business concern floundered, Olympus became increasingly reliant and focused on its medical devices business.
And it didn't help that in 2011, Olympus' fired CEO-turned-whistleblower revealed that the company had used acquisitions to hide decades of losses, sparking a major corporate scandal that tarnished the reputable make.
"Olympus has implemented measures to cope with the extremely severe digital camera marketplace, due to, amongst others, rapid market shrink caused by the evolution of smartphones," Olympus states. "Olympus has improved the cost structure by restructuring the manufacturing bases and focusing on loftier-value-added interchangeable lenses, aiming to rectify the earning construction to those that may go along generating profit even as sales dwindles."
In the terminate, its efforts in attracting more than photographers to its photographic camera and lens lines failed to bring the business to profitability.
"Despite all such efforts, Olympus's Imaging business recorded operating losses for 3 consecutive fiscal years upwardly to the term concluded in March 2020," the company says.
Olympus says that JIP may exist able to make the Olympus camera business more "meaty, efficient, and active" to achieve "self-sustainable and continuous growth."
The OM-D and ZUIKO are fix to live on through this auction, and the new company owned and operated past JIP will be responsible for all research, development, and manufacturing of the cameras and lenses.
Financial terms of this bargain take not been made public. Olympus says it will go on business as usual upwards until the close of the deal, and that new products planned for 2020 will still be launched according to schedule.
Source: https://petapixel.com/2020/06/24/olympus-exits-the-camera-business/
Posted by: fowlerpind1987.blogspot.com
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