From PC Mag: Japanese manufacturer Olympus Corporation has announced that it intends to exit the camera business through the sale of its Imaging business.
Olympus has existed as a company since 1919, but its Imaging business started in 1936 with the sale of a camera using the Zuiko photographic lens. The company's innovative Pen camera series then launched in 1959, and the Olympus brand went on to become a household name associated with digital cameras. However, smartphones happened and Olympus hasn't been immune to the squeeze that placed on camera manufacturers. Now it's admitting defeat and moving on.
As The Verge reports, Olympus today posted a signed memorandum of understanding that details an intent to sell its Imaging business to the investment fund Japan Industrial Partners (JIP) where it will form a new company. JIP will likely be best known to people for acquiring the VAIO business/brand from Sony back in 2014. New VAIO laptops have been launched in recent years, and it looks as though JIP intends to do the same with Olympus cameras, although we don't know under what name yet.
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