mffox Loc: Avon, CT

After 3-4 years of heavy losses, Olympus is selling its camera business to a Tokyo investment firm. Read about it in the "Wall Street Journal", June 25 edition, page B2.

Rongnongno Loc: FL

I read that too yesterday.

Linda From Maine Loc: Yakima, Washington

Mark, there have been no fewer than eight UHH topics about this news, all currently in Links and Resources. You need to be quick to be first on this site

tommystrat Loc: Bigfork, Montana

I was going to say that...

Rongnongno Loc: FL

Ok, so will this be thread bashing then?

Linda From Maine Loc: Yakima, Washington

But with a smile and a virtual hug 🤗

Here's one I didn't count earlier; it's in main discussion:
https://www.uglyhedgehog.com/t-652866-1.html

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Harl-Man

I’ve been an Olympus film camera user since the 1970s, having purchased a 35RC model at the Army PX at Ft Hood, TX. And many newer models since.
I owe a great debt of gratitude to the Olympus company as my wife was diagnosed with pancreatic cancer in November of 2017 when the medical staff at Strong Memorial Hospital used one of their endoscopes to locate the cancerous tumor and aim their biopsy device and retrieve tissue in their diagnosing her cancer. Two and a half years later my wife is still alive!! Thankfully Olympus will continue to provide these types of photographic equipment to the medical field.

obsidian

It's been a long time comin'

Six executives sacked by Japan's Olympus have been ordered to pay more than half a billion dollars in damages after a massive accounting fraud.
The camera and medical equipment firm brought the case against ex-chairman Tsuyoshi Kikukawa and 15 others.
A Tokyo court found Kikukawa and five others liable for $529m.
The ruling comes comes six years after former chief executive Michael Woodford exposed his colleagues for falsifying accounts to conceal losses of $1.7bn.
The scandal was one of the biggest financial frauds in Japan's history, but Kikukawa and two other executives who pleaded guilty never went to jail. Instead, they were given suspended sentences of up to three years.
An Olympus spokesman declined to comment, saying the former employees could appeal against the ruling.
One of the six men found liable by the court has since died, but his family could still be held responsible for his share of the damages, according to the AFP news agency.

billnikon Loc: Pennsylvania/Ohio/Florida/Maui/Oregon/Vermont

They have merged or been bought out, however you want to phrase it. Olympus could live on, either under their own name on someone else's. Only time will tell.

camerapapi Loc: Miami, Fl.

Obsidian, it seems that the "honor" so much talked about by Japanese people is a thing of the past. I remember the financial problems Olympus had about 6 years ago when the scandal due to fraud was discovered. I believe it was Sony that came to the rescue and Olympus was able through the innovation of their new cameras and technologies to get back in track again. At the time, their Pen series of cameras sold very well. The company became very successful selling cameras and lenses.

As I said in another post, the company claims that they have been having losses in their camera division for the past three years. The Covid-19 pandemic came to aggravate even more the financial issues with Olympus till they finally announced the camera division has been sold to JIP. All I know of JIP is that they are a company that buy other companies failing to keep financially stable and eventually sell again.

I would consider a disgrace for the Japanese camera industry the complete demise of the Olympus brand after their success in manufacturing and selling cameras for 84 years. They have been a strong company since Yoshihisa Maitani joined the company in 1956. Olympus cameras have always sold very well in Japan and the rest of Asia, less so here in the USA although Olympus has had many followers in this country and in Europe. When they began their joint venture with Panasonic in the M43 system their cameras and lenses sold very well. I believe, but I cannot prove it, that when their prices on new cameras became so high their finances were hurt. I do not believe that the owners of the new intelligent cell phones with better cameras incorporated in them are the same candidates to buy the sophisticated Olympus bodies. I simply do not believe it. As I said, their financial problems have not been helped with the pandemic nor it has helped the other manufacturers of lenses and cameras either.

I am quite sure that Olympus will do well for the next 8 years or so but after that only God knows what will happen. With the news that the company is been sold I am sure many Olympus followers will switch to another system and that will force lower prices. I know that JIP has never been involved in the camera business so I expect for Olympus to thrive again that the whole camera division continue to do what they have been doing so well for so many years. I am assuming that they will become financially stable once more and that the corruption schemes of the past are over.

cameraf4 Loc: Delaware

Some may find this interesting. https://www.youtube.com/watch?v=tY9cJHHswQw&feature=youtu.be

rcarol

Actually, the company has not yet been sold. However, there is a memorandum of understanding (MOA) that Olympus and JIP will negotiate the terms and conditions for a sale to JIP. If negotiations don't go well, the sale could be called off.

aellman Loc: Boston MA

I guess it's just too difficult to compete with Nikon and Canon, aka the 800 pound gorillas, as well as the other companies with a very small market share. Olympus may not be the last manufacturer to fall.

rcarol

Just because the Olympus Imaging Division may be sold to JIP does not mean that it has failed. Companies are bought and sold on a regular basis. It may be that down the road, Olympus may cease to exist but to count them down and out at this moment in time is premature.

joer Loc: Colorado/Illinois

I suspect that that in today's declining camera market JIP will not invest significantly to maintain Olympus to its current status.

JIP bought Sony's computer division several years and turned into a low end product alienating Sony's computer customer base. I don't believe they can use the same strategy with Olympus since the low end camera market is dominated by smart phone cameras and history shows us a stand-alone camera won't compete.

The most likely option is to sell off Olympus's technology to another camera maker. They may be obligated to support the current base for a time but eventually it will be Olympus in name only.