It’s been a tough year for the industry so far, and, while things are slowly coming back around, there’s still a lot of uncertainty surrounding tomorrow.
But one thing that is for sure is that Olympus, the Japanese camera company that is continually the subject of rumors, is actually leaving the South Korean market for good.
As many industry watchers have pointed out, none of this is particularly surprising. Camera sales have sharply declined over the past several years and Olympus is one of those companies that has weathered that somewhat worse than others.
But the exact reasons for the withdrawal from the South Korean market aren’t really known. It could be a cost-cutting move or it could be due to the ongoing trade tensions between South Korea and Japan.
Olympus, like Canon and Fujifilm, is a massive Japanese conglomerate that has a presence in a myriad of industries outside of cameras. Just last November we brought you a story about how it was rumored that Olympus was giving up the business entirely to focus on its other ventures but that notion was quickly shot down by the company. Since that time Olympus brass has emphasized their desire to continue making cameras as well as pursue market efficiencies to restore the division to full horsepower. Whether or not that will ever happen remains to be seen as the market shrinks and competition remains as fierce as ever.
What do you think of Olympus’ decision to pull out of the South Korean market? Let us know your thoughts on this story in the comments section below.
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