It’s Official: Olympus Exits the Camera Business
Olympus is exiting the camera business after an 84-year run! This means we can finally confirm the ongoing rumors and say ‘goodbye’ to one of the world’s most recognizable brands in the industry.
As we can read in th press release, Olympus has signed a memorandum of understanding to sell its camera division to Japan Industrial Partners (JIP), the same investment firm that acquired Sony’s VAIO PC business back in 2014.
Olympus and JIP are aiming to sign a legally binding deal by September 30th.
After three years of losses Olympus says it needs a more ‘compact, efficient and agile’ corporate structure and claims having a new company run the camera business is the only way to make it survive and grow.
We must wait to see if this happens.