Tech

Olympus sells camera business to financial investors

The Japanese Olympus group wants to part with its traditional camera business after smartphones have plowed the industry. The division is to be taken over by the financial investor Japan Industrial Partners, as the companies announced on Wednesday.

Olympus’ camera business had shrunk steadily and most recently only brought in around five percent of the group’s revenues. Olympus now focuses almost exclusively on medical equipment. The decision to give up camera technology was made after the division posted red numbers for three consecutive years, even after tough restructuring measures.

Olympus specifically referred to thisthat the improvement in smartphones was rapidly shrinking the camera market. Especially top models from Apple, Samsung, Huawei or Google meanwhile offer ever better image quality thanks to the combination of several lenses and processing by software.

The deal is expected to close in late September. Japan Industrial Partners had bought and continued to run the notebook business from Sony a few years ago.


(mho)

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