Legendary camera brand disappears from market

Japanese company Olympus will stop producing cameras. It just announced that it will sell this business segment to a private equity fund. The transaction is to be finalized by the end of the year. Olympus cameras have been created for 84 years and during that time they became one of the most popular in the industry next to Canon, Nikon or Sony.

Still, Olympus has seen losses in the photo business for three years and it has been making money from other products. While cameras are probably the best-known product from the Japanese brand's portfolio, the Olympus business is mainly done on specialized devices, including medical devices, e.g. endoscopes.

(Business Insider)