Following Konica Minolta’s decision yesterday to sack over 10% of its worldwide work-force, Olympus have announced a strategic shift from compact digital cameras to digital SLR models, such as the new E-500 (pictured), which typically have higher profit margins. This comes hard on the heels of the Japanese manufacturer’s latest profits, or rather lack of them - net profit dropped to 2.17 billion yen in the first half of the financial year, down from 6.71 billion yen a year earlier. Olympus’ plans are pretty aggressive. Current SLR sales account for 3% of their camera sales, and Olympus aims to increase this to 30% within 5 years.

Website: Reuters - Japan’s Olympus to shrink compact camera business