Olympus to close camera operations in South Korea
According to a new report, Olympus will close it's camera operations in Sout Korea on June 30th. The decision is based upon low camera sales. Olympus will continue to sell medical and scientific equipment in South Korea.
In a statement to The Korea Times, Olympus said that despite focusing on mirrorless cameras and interchangeable lenses, 'it has become barely possible to sustain the business with profit,' which has resulted in the business decision to close.
With the camera industry on a whole facing a downturn this year due to lack of demand, and then, added to that, COVID-19, it's certainly obvious that the smaller players would be hurt greatly by everything that is happening this year.
Is this the beginning of the end of Olympus and cameras? Possibly but probably not.
This post may contain affiliate links(s). An affiliate link means I may earn advertising/referral fees if you make a purchase through my link, without any additional cost to you
. It helps to keep this site afloat. Thank you in advance for your support. If you like what we do here, maybe buy me a coffee.