Olympus Leaving the Camera Business After 84 Years

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It looks like all of the rumors were true: Olympus is leaving the camera business.

grey and black camera
Photo by Kaique Rocha from Pexels.

The company announced today that it would be selling its Olympus Imaging Business Unit.

This move is being taken in the name of “efficiency” according to reports.

The following statement was posted on the Olympus UK website:

“Today the Olympus Imaging Business has signed a memorandum of understanding (MOU) with Japan Industrial Partners, Inc. (JIP). According to the MOU, both companies are entering into further discussions about the potential transfer of Olympus’ long-standing imaging business to JIP by the end of 2020.

JIP is a strong investment fund with a track record of success and has maximised the growth of many brands. JIP will use the innovative technologies and solid brand position of Olympus within the market, while also improving the profit structure of Olympus’s imaging business.

We understand you may have many questions, all of which we will work to answer in the upcoming weeks. We ask for your patience: we believe this is the right step to preserve our brand’s legacy, the products, and the value of our technology. Olympus sees this potential transfer as an opportunity to enable our imaging business to grow and delight both longtime and new photography enthusiasts. Olympus and JIP will continue discussions, and we are committed to providing full transparency about our intentions as the plans solidify.

We are grateful to all our customers for their loyalty and support for our products, and their passion for photography. During the ongoing discussions, Olympus Imaging will operate with business as usual: we will continue to work on innovative initiatives for our customers and we will launch new products as planned.”

What do you think of Olympus leaving the camera business? Let us know your thoughts in the comments section below.

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