Olympus Camera business still facing uncertainty
This is no longer just a rumor. It certainly seems as if the Olympus camera division is facing an uncertain future.
Olympus, according to Bloomberg, may cut jobs to increase the profit margin overall. No word on where those job cuts may occur, but as Bloomburg notes, the imaging unit makes up 6% of sales and is the lowest margin and the lowest growth of all businesses in Olympuses portfolio, it makes sense that cost-cutting may occur there.
Chief Executive Officer Yasuo Takeuchi said.
“The issue of personnel will naturally need to be addressed,” Takeuchi, who was promoted from chief financial officer in April, told reporters in Tokyo on Tuesday. “It’s a strategy to improve performance, and something that will come about in due course.”
Also, the article notes that contrary to prior comments, Takeuchi walked back his statement that the Olympus camera divison is not for sale, stating now;
Takeuchi also backtracked on some of his comments in the past that the camera business was not for sale, saying that may not be the case anymore. The imaging unit, which makes up 6% of sales, is the lowest margin and lowest growth businesses in Olympus’s portfolio, according to past company presentations.
PhotoFocus reached out to Olympus, and Olympus stated;
“As announced in our Corporate Strategy, Olympus is further focusing on our Medical business and follows the strong ambition for all of our businesses to be profitable and contribute to our overall business objectives. In that regard, we are continuously evaluating our overall portfolio, as announced in our Corporate Strategy on November 6, 2019.
“For Imaging, however, we currently have no plans to sell the business. The task is therefore to stabilize and strengthen its market position. To achieve that, we are actively running marketing activities, and have already established a clear and exciting product roadmap for the coming months and years. We are actively pursuing future technology developments that will enhance photography and video for creators. Furthermore, Imaging is and will continue to be an important technology and innovation driver for our other businesses.
“Our Imaging business features a unique product portfolio. Olympus products are compact and lightweight, feature market leading image stabilization and autofocus. Many of our high-end products are also splash-proof. No other product offers customers this level of optical excellence paired with the highest mobility.
“Just last month we launched our new OM-D E-M5 Mark III – a light yet feature packed addition to our semi-pro camera portfolio, inheriting pro-features like a high precision AF from our OM-D E-M1 Mark II model. Furthermore, we have announced the development of M.ZUIKO DIGITAL ED 150-400mm f/4.5 TC1.25x IS PRO earlier this year to be launched by next year. Customers can follow our break-free campaign on various channels and worldwide.”
However, that sounds exactly what Samsung stated before they quietly disappeared from the market. So right now it's anyone's guess.
More to come.
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