In a shock announcement last month, legendary camera-manufacturing brand Olympus announced its exit from the photography industry, with the sale of its camera division. Although rumours of the move had been circulating for many months, Olympus formally denied the sale was imminent last November. June saw an official statement from the company, leaving devotees of the veteran brand wondering what the future holds for Olympus and the wider Micro Four Thirds system.
Only last August the Tokyo-based manufacturer bought back Sony’s $760 million stake in the company. But rather than an investment in the future, it seems this was to enable a clean deal with private equity firm Japan Industrial Partners, which specialises in the buying, restructuring and resale of unprofitable businesses.