This is quite encouraging news for users. They don’t have to worry that their invested money will be wasted out of nowhere. By selling the photography division, Olympus, on the other hand, is trying to ensure that its devices do not disappear from stores.
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“Japan Industrial Partners is a strong investment fund with many successes in similar cases where it has managed to maximize the initially slow growth of many brands. It will use its expertise and leverage the many innovative technologies and strong market position of the Olympus brand to improve its profitability, ”said Olympus representatives in an official statement.
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However, they themselves admitted that the entire acquisition process is still in the negotiation phase. “We understand that you have many questions. We will provide you with answers to all of them in the coming weeks. We ask for your patience because we believe that what we are doing is the right step to preserve the heritage of the brand, products and value of our unique technologies, ”says the official statement.
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“Olympus sees this potential transfer as an opportunity to enable the photography division to continue to provide its products and services to all existing and new customers, as well as photography fans and enthusiasts. Olympus and Japan Industrial Partners will hold further talks in the coming days and weeks. As the individual agreements and plans are gradually concluded, both companies will provide information about them to all parties involved, “concluded Olympus representatives.
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Olympus E-M5
Photo: Olympus
The reason for the sale is clear. Olympus said in an official announcement that, despite all efforts, it has not been able to keep camera production profitable for a long time. The company has been at a loss for the last three years. For Olympus – as with other camera manufacturers – current market conditions are very harsh. This is due to the fact that fewer and fewer people buy cameras, most users can do with smartphones. The camera market has therefore shrunk dramatically.
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Olympus will focus on its other activities, primarily the production of microscopes and optical technologies for scientific and medical equipment, such as endoscopes.
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History and future of Olympus
Olympus made its first camera as early as 1936, after years of making microscopes. After decades of development and competition, the company rose to the pinnacle of technological progress in the 1970s, and its small and light devices were revolutionary in a way.
At the same time, the company managed to capture the transition to the era of digital cameras. In recent years, Olympus has focused primarily on compact SLRs and cameras designed for ordinary people who do not have professional ambitions. As can be seen from the lines above, this tactic did not bring higher sales.
That’s why Olympus has agreed to divest its Japan Industrial Partners division. Incidentally, this investor company, which, by the way, bought Olympus’ telecommunications activities in 2012 and the production of Vaio computers from Sony in 2014, will be able to use Olympus brands – such as Zuiko lenses.
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