Times are tough for storied camera company Olympus according to rumors. So bad that the parent company could shutter the division entirely in 2020.
Whether it is a sign of the times or just another indication of just how tough the camera market has become in the past decade, the loss of Olympus would be a huge blow to many photographers who have stuck with the brand through thick and thin.
As FStoppers points out, the writing is somewhat on the wall for the storied camera brand as the company’s financial reports have shown continued declines in revenue as well as losses from the camera division.
Beyond that, the competition in the mirrorless camera market shows no signs of letting up anytime soon and the company has really dug its heels into the micro four thirds market but the company’s models and prices don’t really match up with some of the more capable competitors out on the market.
Troubles in the imaging division don’t mean that the company at large is in danger but, given that the company is celebrating 100 years in the market, this news can’t help but cast a shadow over everything.
Also, it can’t help that smartphone cameras continue to take up a lot of the oxygen in the room for cheaper models and that trend shows no sign of slowing down – at all – anytime soon. That is to say that the forces impacting Olympus are hitting other companies as well. It is just that they have a deeper, perhaps more relevant product bench at the moment.
What about you? Are you an Olympus fan? What do you think about these rumors? As always, we’d love to know your thoughts on this story (and others) in the comments below.
Also, don’t forget to check out the other photography news articles here on Light Stalking.