Olympus rumored to shut down its camera business within eight months. Again

Tips & Techniques

Rumor has it that Olympus could shut down its camera business. The latest financial results are not stellar, and some reports say that the company could close its camera division as soon as next year.

The latest report was shared by Photo Rumors, and it’s based on financial analysis (or perhaps a personal opinion) done by Personal View:

  • It is total instability now in camera division, in various countries people are running and looking for new positions.

  • Lot of rumors and talks that we can hear sudden closure press release within January-March time.

  • Some talks are that development team and some equipment can be picked either by Sony or Samsung.

A similar rumor was going around earlier this year. It speculated that Olympus was about to leave the digital camera market due to financial losses in the Q3/2108. However, Olympus denied the rumor shortly after it broke out:

“The image technology we have cultivated for about 70 years is also effective in other fields. We know that production know-how such as cameras will be useful for expanding mass-produced therapeutic equipment.” – Yasuo Takeuchi, Olympus President/CEO

True, Olympus hasn’t been doing well lately in terms of revenue, losing 17% in the imaging business in Q2/2019. But, other companies have been doing poorly too. Canon’s few latest financial reports have been catastrophic. Kodak has also seen a decrease in overall profits. And neither of these companies is shutting down their business (and we’re happy for it). So, I believe that the latest rumor regarding Olympus will remain just that – a rumor.

[via SLR Lounge, Photo Rumors]

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