Olympus Corp. is getting out of the camera business after 84 years to focus on medical devices.
The Tokyo company, which has been under pressure from U.S. shareholder ValueAct Capital to improve shareholder returns, said Wednesday that it planned to sell its camera unit to private-equity firm Japan Industrial Partners Inc. It didn’t disclose financial details. The companies aim to complete their deal by the end of the year.
There is still a huge market for both DSLR, 'travel zoom,' and pocket digital cameras. Olympus has solid offerings in the DSLR segment, but failed to innovate and stay competitive in the others.
Olympus was my first camera love. My OMPC-2 took incredible photos, but after the digital revolution, I slowly migrated over to Canon. I do have a couple of Oly pocket digital cameras, both in their TG line, and both great cameras. Sad to see Olympus go.
Damn. They made one of the best underwater cameras
They simply forgot to hitch a ride: build in comms to send pics
Sad end for the company, that will be the norm time and again, some entities will always be buried by technological changes
iamepijimenez
Plenty of people still enjoy cameras. It is a competitive world. If they were doing poorly for 3 years... it is on them. I never seen an advert or a YouTuber collab with Olympus.
Conveniences of technology will pulverized existing epitomized products!
Fujee Fujee
imagine the healthcare industry when we tweak people's health with good food, activity & life balance, oh wait, that would make sense, neveryemind, spend trillions.
Will cameras make a vinyl style revival?
😞
I have an olympus which means i cant get it repaired 😣
This makes me sad. Cameras are magical.
It’s amazing how quick things change
Evolution will rid of gas vehicles as well
The Kodak effect
They should have followed Sony,zeiss and Leica by manufacturing camera lenses for smartphones.
The commoner just needs a phone, if you want to take really good photos you need a real camera. Makes sense.
Wow. This is so sad.
I consulted with Canon on their 3D strategy and was shocked when their head of strategic planning revealed that they did not forsee the decline in standalone digital camera and printer business. Big Companies do not see shift because of technology innovation.
Market disruption is a thing.
Sad news.
Peronia
Olympus & others would be well advised to return to predigital brilliance. Growing postdigital world wants them. Same local marts. Keep them open at least in affluent neighbourhoods. We are tired to participate privately on digital monkeybusiness.
Not a fan of Olympus, but sad to say the camera brand going off market.
Kingsley982
ai don't like to sleep lone
Following the almighty Kodak.
Be their voice too. iranianLivesMatter
Would be interesting if they leaned into the film niche and re-released old cameras with a following like the Stylus Epic. I guess we'll never see that happen though 🤷🏻♂️
This is a cryin shame..... wouldn't have to be this way if phones didn't cost so damn much, but that's Capitalism, & I'm all for it.....
I would hold out if it is possible, I can see the demand returning once travel conditions improve.
Olympus has fallen
sad news: economy kills visual culture. an oligopol for imaging devices is taking shape.
Wow! Big news. 📷 📸
Lets hope they save those beautiful lenses
Sad day
Don’t repeat what happened to Yashica by selling the brand to the Chinese.
Wow.
I completely forgot about 'Olympus' cameras until seeing this article.
Shame. Olympus has made some great cameras.