Photography news, before it happens

Olympus financial losses over the years (thanks Eamon!)

While Olympus is pretending that what happened is not a big deal at all with statements like this:

“We believe this is the right step to preserve the legacy of the brand, the value of the technologies and the outstanding products. Olympus sees this transfer as an opportunity to enable its Imaging business to continue providing value to longtime and new customers, fans and photography enthusiasts.”

Here is the testimony of Doug Janis, a guy who lives in Japan, and throws a worrying light on Japan Industrial Partners (JIP) and the fate that awaits Olympus Imaging:

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I took a lot of heat from fanboys when I reported last year that Olympus will exit the camera business (feel free to read some of the comments to this post). After years of bad financial results and bad publicity, today Olympus announced that they will sell their camera business by the end of the year.

Olympus could be forced to exit the digital camera market

A business doesn’t exist to satisfy online trolls, it does exist to make money and if it can’t, it will be gone sooner or later. Even the Olympus CEO said that the camera business is up for sale. Korea was just the beginning and the shareholders won at the end.

For some of you, this is also a lesson to never trust what a company says officially. Do you remember Olympus’ commitment to MFT? I also recall the CEO denying the sale of the camera business. How about Olympus Russia denying all rumors about the company exiting the camera business?

Full press release:

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