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 imaging 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." Despite those efforts, however, the company said it "recorded operating losses for three consecutive fiscal years up to the term ended in March 2020."
Jun-24-2020, 12:20:33 GMT