These days, smartphone cameras are getting better and they can satisfy most of our basic needs when it comes to taking photos. Therefore, digitial cameras have become more of a want rather than a need unless you are taking photography more seriously. Olympus is a brand that you've definitely come accross while looking for a digital camera, but do you know that they're now quiting the camera business?
Olympus has announced that they have sold their camera business to Japan Industrial Partners (JIP), which is the same company that bought Sony's VAIO PC division. It is stated that the camera manufacturer will now focus its much larger business supplying industrial and medical imaging equipment.
Despite the efforts of improving their cost structure and focusing on high-profit cameras and lenses, the company stated they have "recorded operating losses for three consecutive fiscal years up to the term ended in March 2020." It is unsure what plans that JIP have for the business, but it is mentioned that they will continue to sell the existing camera models and develop new ones. The sale will conclude by 3 September 2020.
Let us know what you think about this shocking news on our Facebook page. Stay tuned to TechNave.com for more viral tech updates.
COMMENTS