Olympus quits camera business after 84 years

[left-of-center2012]

Olympus, once one of the world's biggest camera brands, is selling off that part of its business after 84 years. The firm said that despite its best efforts, the "extremely severe digital camera market" was no longer profitable.

The arrival of smartphones, which had shrunk the market for separate cameras, was one major factor, it said. It had recorded losses for the last three years.

The Japanese company made its first camera in 1936 after years of microscope manufacture. The company continued to develop the camera business over the decades, becoming one of the top companies by market share.

The market for standalone cameras has fallen dramatically - by one estimate, it dropped by 84% between 2010 and 2018.

Olympus Corporation, however, will continue. The company never stopped making microscopes, and has turned its optical technology to other scientific and medical equipment such as endoscopes.

https://www.bbc.com/news/technology-53165293

[The Velveteen Ocelot]

1. Bummer! I have an Olympus digital SLR that I really like.

I hope it will still be possible to get parts and repairs.

[brush]

2. How soon before Nikon and Canon follow?

The market has shrunk by 84% in ten years—astonishing what impact cell phone cameras have had on not just racial justice/killer cops, but on the camera business.

It's kind of like ripples in a pond of the imaging business. Kodak didn't anticipate nor react quickly to the digital cameras and their no need for film in the early 2000s, and they actually invented the technology. Such a blunder.

[littlemissmartypants]

3. Wow! That makes me sad. ❤ nt

[left-of-center2012]

4. And how has Kodak and Polaroid been affected?

Remember the drive up film processing drop off 'huts'?

[ManiacJoe]

7. For the most part, Kodak is out of the consumer photography business.

[hunter]

5. I really wanted one of these when it came out...

https://en.wikipedia.org/wiki/Olympus_OM-2

I eventually ended up with an XA because it was easy to throw in my backpack.



https://en.wikipedia.org/wiki/Olympus_XA

[flamin lib]

6. Selling to a "turn around" company.

The same company that bought Vaio from Sony. That usually means lay offs and a cut to R&D to "streamline" production and increase efficiency. I have no doubt that the brand will survive and that the 4/3 format will remain viable but I worry about the personality of the company. Engineering has always been given a free hand to be creative, hence the cutting edge product. I hope that spirit survives.