Camera Maker Olympus Closes its Doors After 84 Years

Camera Maker Olympus Closes its Doors After 84 Years

After nearly 90 years, camera maker Olympus is shutting its doors on the industry. While they will still function as a business, the company has decided to sell its camera department to investment firm Japan Industrial Partners. Olympus has been making cameras since 1939 and have helped shape the industry for the better. In recent times, the camera maker has focused on the micro 4/3 sensor system that has given birth to many amazing cameras in its OM-D lineup. Like other camera manufacturers, Olympus has been struggling to keep their camera department profitable and competitive to the ever growing smartphone market.

The camera industry in general has been taking a beating. As smartphone cameras continue to get better, consumers have less of a reason to buy a dedicated camera. Another problem certain manufacturers have had has been adjusting to the new market of mirrorless cameras. This new trend started thanks to the help of Sony who have been making quite the number of advancements over the traditional DSLR style camera. Olympus’ micro 4/3 system has been regarded as one of the best makers of that sensor size. On the topic of shutting down their camera department, the company stated via PetaPixel:

“Olympus has implemented measures to cope with the extremely severe digital camera market, due to, amongst others, rapid market shrink caused by the evolution of smartphones, Olympus has improved the cost structure by restructuring the manufacturing bases and focusing on high-value-added interchangeable lenses, aiming to rectify the earning structure to those that may continue generating profit even as sales dwindles.”

With more and more stories of camera companies closing their doors, it is going to be interesting to see what camera companies do to maintain their fan base. For more information, click here.

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