Konica Minolta make some very nice digital cameras, but it doesn’t sound as if that is enough, as the company announced a 38% cut in its operating profit target for the next business year. Ominously the digital camera side of things was blamed at a press conference on Friday:

“Konica Minolta gets more than half of its sales and most of its profit from office equipment, but its photo imaging division, which handles film and cameras, has been its Achilles’ heel. The division is headed for a ¥9 billion loss this business year. “We will scale down our photo imaging business in step with the shrinking of the overall market and will rush to get the business out of the red,” Konica Minolta President Fumio Iwai told a briefing held to unveil a new medium-term business plan.”

Website: CNN Money - Konica Minolta cuts profit target by 38%