Olympus finally decided to stop selling cameras after 84 years. This news is official, and the popular Japanese brand claimed that it is no longer profitable. Despite a lot of efforts made in the last few years, it is way difficult to compete in the digital camera market camera.
One of the major reasons for taking this decision is the arrival of different brands’ smartphones that are widely available and popular in the market. The popular company recorded several losses for the last three years. The first time Olympus introduced their camera in 1936, which costs more than a month’s wages of most people at that time.
For over 8 decades, the company keeps on selling cameras and became one of the best-selling brands in the market.
Nigel Atherton, Editor of Amateur Photographer magazine said that “There’s a huge amount of affection for Olympus, going right back”
Back in 1970, celebrity photographers David Bailey and Lord Litchfield used Olympus cameras.
Atherton further added that “Those cameras were revolutionary – they were very small, very light, they were beautifully designed, had really nice quality lenses.”
No doubt the market is very competitive, and people especially youth is more directed towards smartphones – for multiple purposes.