Could not stand the competition with smartphones. Olympus Sells Camera Business

11 months ago

In 1936, the company released its first camera

One of the pioneers in the production of digital cameras Olympus, announces the sale of units producing photographic equipment. It is reported by The Verge.

The company announced that it had concluded an agreement with Japan Industrial Partners (JIP), and they plan to complete the deal by September 30.

Olympus says it “has taken action because of the rapid market contraction caused by the development of smartphones.”

Under the agreement, Olympus will expand the division and transfer all its shares. Investors will develop the Zuiko and OM-D brands and sell equipment under the Olympus brand.

The transaction amount is not disclosed.

Olympus was founded in 1919 as a manufacturer of microscopes and thermometers and has become one of the pioneers in the digital photographic market. In 1936, the company released its first Semi Olympus I camera.

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