JAPAN - After 84 Years, Olympus Quits Camera Business

Arno Froese

Olympus, once one of the world’s biggest camera brands, is selling off that part of its business after 84 years.

The arrival of smartphones, which had shrunk the market for separate cameras, was one major factor, it said.

The Japanese company made its first camera in 1936 after years of microscope manufacture. The Semi-Olympus I featured an accordion-like fold-out camera bellows, and cost more than a month’s wages in Japan.

The company continued to develop the camera business over the decades, becoming one of the top companies by market share.

“Those [1970s] cameras were revolutionary—they were very small, very light, they were beautifully designed, had really nice quality lenses,” said Nigel Atherton, editor of Amateur Photographer magazine.

They targeted their later range of mirrorless cameras at a middle market—"people who weren’t serious photographers—they wanted something better than a point-and-shoot camera, but they didn’t want a DSLR camera.”

“That market very quickly got swallowed up by smartphones, and turned out not to exist.”

The market for standalone cameras has fallen dramatically—by one estimate, it dropped by 84% between 2010 and 2018.

Olympus Corporation, however, will continue.

The company never stopped making microscopes, and has turned its optical technology to other scientific and medical equipment such as endoscopes.

-www.bbc.com, 24 June 2020

Arno's commentary

Indeed, camera technology developed so fast that it left behind those who insisted on the old ways. That also was the case with Nokia. At one time, the Finnish company was the world’s largest producer of mobile phones. No more today.

The lesson for believers: know the Word of God, know His plan, but also know Satan’s plan, for 2 Corinthians 2:11 reads: “Lest Satan should get an advantage of us: for we are not ignorant of his devices.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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