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Olympus gave up

Olympus sells camera unit

Launching Japan’s world-renowned photography giant and first camera in 1936, Olympus could not withstand the rapidly developing competition and put the camera unit on sale.

Olympus signed a preliminary agreement to hand over the camera division to Japan Industrial Partners (JIP).

Japanese technology company Olympus, which was founded in 1919 and entered the camera business in 1936, decided to end the camera and camera business in which it has been operating for 84 years.

Olympus announced that the company has signed a memorandum of understanding to dispose of the imaging unit with a statement on its website. In this context, Olympus signed a preliminary agreement to transfer the camera division to Japan Industrial Partners (JIP). The agreement between the parties is planned to be completed by the end of this year.

While there is no official explanation regarding the price of the sale, it was stated that Olympus will release its new products planned for this year according to the program.

JIP, which bought the camera division of Olympus, previously bought the telecom business of Olympus in 2012, and acquired Sony’s laptop brand VAIO in 2014.

Olympus

LEGENDED WITH ‘PEN’

Founded in 1919, Olympus produced the first camera in 1936. The company produced and launched the first model of the Pen series, which became a classic in the history of cameras, in 1959.

In recent years, the cameras of smart phones competing with professional machines have negative effects on camera sales of camera manufacturers such as Olympus. This resulted in companies such as Olympus focusing on corporate customers, such as medical devices, rather than individual consumers.

The use of smartphones, even in amateur or professional shots, has seriously affected sales figures. This farewell will only be for the camera division, and will sell the camera division to Japan Industrial Partners, which previously bought Sony Vaio.

However, it is a matter of curiosity how long the life of the company will decrease. Information about whether the company will enter new sectors or what kind of policy it will follow in its departments. The company will focus its entire focus on developing medical devices. We will see how successful the company will continue to work in this way.

It will hand over everything related to camera systems such as audio systems and binoculars until December 31st. After that, he will invest more for the medical supplies he will focus on. The company, which is valued at approximately 700 million Euros, has declined by 10 thousand in the last 2-3 years. With the sale of this camera section, a significant number of workers are expected, while some will continue to work under the current new firm.

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