In huge news within the camera industry, it has been announced that Olympus Corporation will be divesting its imaging business to a Japanese private equity fund.
Olympus’ camera division will be owned by Japan Industrial Partners (JIP), with an agreement expected to be finalized by 30 September 2020.
According to 43 Rumors, JIP specializes in restructuring loss-making businesses to make them profitable before reselling them to “corporate acquirers” (such as purchasing Sony’s PC business, Vaio).
Olympus has fallen. After 84 years, Olympus ends its camera division. The company founded the Micro Four Thirds standard with Panasonic and remained committed to the system that has helped many beginners and enthusiasts dabble in photography by lowering the barrier of entry.
As a photographer and camera lover, I have always been fond of Olympus camera designs. My favourite is the Olympus Pen F film camera. It is a sad day, though we have to see what direction Olympus will continue to take in terms of camera making.