About: http://data.cimple.eu/news-article/fb1b71d649e5e6952782eea57b59ffeda1cb728471ce55edbe6809f3

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About: http://data.cimple.eu/news-article/fb1b71d649e5e6952782eea57b59ffeda1cb728471ce55edbe6809f3 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	It's the end of an era: Japan's Olympus said Wednesday it is selling its struggling camera division to focus on medical equipment -- now the major portion of the storied firm's business. Olympus has been in the camera business since 1936, when it launched a product using the "Zuiko" lens, but it has struggled along with industry rivals as demand for traditional cameras declines, with consumers relying on increasingly sophisticated smartphone cameras. The company said it has signed a memo of understanding to transfer its camera business to investment fund Japan Industrial Partners, with the goal of sealing a final deal by the end of September. The value of the sale was not specified. The firm has produced a number of famous products, including the half-size camera Olympus Pen, the world's first micro-cassette tape recorder Zuiko Pearlcorder, and the Olympus OM-D series, a mirrorless interchangeable lens camera. The company said it had tried to cut costs and develop profitable, high-end lenses to survive in an increasingly difficult digital camera market. "Despite all such efforts, Olympus's Imaging business recorded operating losses for three consecutive fiscal years up to the term ended in March 2020," the company said. Olympus has, however, seen success in the medical equipment field, controlling a whopping 70 percent share of the global endoscope market. The firm's decision comes as many of its domestic, traditional rivals including Fujifilm and Canon also aggressively expand in the medical equipment sector, under pressure from the same decline in camera sales. hih/sah/qan
schema:headline	Photo finish: end of an era as Olympus sells camera division
schema:mentions	Digital camera Camera lens Smartphone Magnetic tape Zuiko Mirrorless interchangeable-lens camera Olympus Corporation Photo finish Fujifilm Private equity fund Economy of Japan
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-06-24 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	88 (xsd:integer)

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