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Image: Olympus
Olympus, one of the world’s most respected and established camera brands, has decided to call it quits. In a press release posted today, the company revealed that it would be signing its imaging division and brands (e.g., Zuiko, OM-D) over to a separate entity, Japan Industrial Partners, Inc. (JIP), by September 30, 2020. Not surprisingly, the decision stems from the depressing state of the digital-camera market – most folks these days just use their smartphones for photography.
“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...
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