I never once blogged about Olympus, though I owned it’s high-quality film-photography camera in the old days.
On Wednesday (Jun 24, 2020), Japan’s Olympus said it is selling its struggling camera division to focus on medical equipment.
The reason for leaving? Consumers are relying increasingly on sophisticated smartphone cameras. SMARTPHONES!
Side note: If you are still struggling to shoot great videos with your iPhone or Android phone, then join my Smartphone Video Course.
Here are the headlines…
- CNA: Photo finish: End of an era as Olympus sells camera division – Japan’s Olympus said Wednesday (Jun 24) it is selling its struggling camera division
- NIKKEI: Olympus set to bring shutter down on camera business – Japanese company aims to sell loss-making unit this year to private equity firm
- FORBES: Olympus Exits The Camera Market After Three Years Without A Profit – Sad news from Japan where the venerable camera brand Olympus has declared it’s to exit the photographic business
Olympus famous products include the half-size camera Olympus Pen, and the Olympus OM-D series, a mirrorless interchangeable lens camera.
By the way, the Olympus OM-D E-M5 Mark III is listed as one of the best vlogging camera in 2020.
Who is buying Olympus?
- Olympus said that it had signed a memorandum of understanding to transfer the shares to a fund run by Japan Industrial Partners (JIP), a private equity firm. They aim to complete the deal by the end of the year.
How about existing Olympus users? Should we buy or not buy Olympus cameras that are still in the stores?
- JIP is taking over the business. We will find out eventually how they plan to continue the product line.
The new normal is clear. Smartphones are here. They are the camera boss. Download my Smartphone Video Course.
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Adrian Lee
VIDEOLANE.COM
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