Olympus Sells Camera Division to Investment Fund
Olympus has entered talks to sell its imaging camera business to investment fund Japan Industrial Partners by the end of 2020.
Accounting for about 6% of Olympus in terms of overall revenue, the company's imaging division has posted consecutive losses for the past few years. A rapidly declining market and Covid-19 seem to have prompted Olympus to offload their current portfolio of Micro Four Thirds cameras and lenses.
In the immediate future, "Olympus Imaging will operate with business as usual: we will continue to work on innovative initiatives for our customers and we will launch new products as planned." What happens after 2020 remains to be seen...
Today the Olympus Imaging Business has signed a memorandum of understanding (MOU) with Japan Industrial Partners, Inc. (JIP). According to the MOU, both companies are entering into further discussions about the potential transfer of Olympus’ long-standing imaging business to JIP by the end of 2020.
JIP is a strong investment fund with a track record of success and has maximized the growth of many brands. JIP will use the innovative technologies and solid brand position of Olympus within the market, while also improving the profit structure of Olympus’ imaging business.
We understand you may have many questions, all of which we will work to answer in the upcoming weeks. We ask for your patience: we believe this is the right step to preserve our brand’s legacy, the products, and the value of our technology. Olympus sees this potential transfer as an opportunity to enable our imaging business to grow and delight both longtime and new photography enthusiasts. Olympus and JIP will continue discussions, and we are committed to providing full transparency about our intentions as the plans solidify.
We are grateful to all our customers for their loyalty and support for our products, and their passion for photography. During the ongoing discussions, Olympus Imaging will operate with business as usual: we will continue to work on innovative initiatives for our customers and we will launch new products as planned.