I guess soon we will know if the Olympus Camera Division will be kept alive or sold to an external company. And that would be a bad news for the whole photography industry if such a appreciated and historical company disappears. Here is the news that worries me:
Today Reuters reports that “Olympus Corp has launched a review of its business structure, according to an internal memo, amid speculation that the 92-year-old company may have to sell assets in order to survive a massive accounting scandal.“. Reuters also underlined that “Olympus’s camera business currently runs at a loss” and “Investment bankers say rivals in both the endoscope and camera markets are closely watching events unfold at the company, although prospective bidders are expected to stay on the sidelines until the situation becomes clearer.”
I know Olympus managment will try to do everything to not sell the camera division. But I don’t know if the financial situation will force them to sell everything to…Panasonic?..Samsung??? no idea :(
More Olympus fee scandal news:
Michael Woodford meets the FBI (Source: AP). He supports the Olympus Grassroots action (Source: AP).
A number of European banks are under investigation by Japanese authorities to determine whether they helped the management of Olympus hide irregular payments (Source: NYT).