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You are hereHome > News > Konica Minolta Withdraws From Camera and Photo Business

Konica Minolta Exits Camera and Photo Business

 

Friday, January 19, 2006

KonicaMinolta Digital Cameras

Konica Minolta Withdraws From Camera and Photo Business


It was bound to happen sooner or later in a crowded market, but when it comes, it's still a surprise.

We are of course talking about the big news today of Konica Minolta being the first of the major camera manufacturers to withdraw from the camera and photo business altogether.

Blaming the difficulty "to timely provide competitive products even with our top optical, mechanical and electronics technologies," they have announced the following decisions:

- Transfer camera assets to Sony effective March 2006.

- Phase withdrawal from the photo business by the end of March 2006 (Minilab), March 2007 (color film and color paper) and September 2007 (all photo sales activities).

- Reduce worldwide Konica Minolta Group employees by 3,700 from the current 33,000 including early retirement offering by September 30, 2007.

In the Camera Business, net sales for Fiscal year ended March 31, 2005 was 117,000 million yen (Forecast for fiscal year ending March 31, 2006 is 75,000 million yen), with an Operating Loss of 7,300 million yen.

In the Photo Business, Net sales for Fiscal year ended March 31, 2005 was 151,500 million yen (Forecast for fiscal year ending March 31, 2006 is 110,000 million yen), with an Operating Loss of 1,400 million yen.

According to the press release, Konica Minolta will be concentrating their business resources on non-consumer businesses, such as the core 'business technologies' field, the strategic 'optics and display devices' field, and the growth expected 'medical imaging' and 'sensing' fields.

We're sure that, besides acquiring the camera assets, Sony will also acquire some of the talented personnel assets as well. This announcement sure promotes Sony from being a "non-traditional" camera manufacturer to a potential major player in the dSLR field -- all depending on how they execute in that all-important field. Sony now also possesses one of the hottest CCD stabilization technology available.

Links:

Read the whole KonicaMinolta press release...

Partial Transfer of Assets to Sony

Brief History of Minolta Cameras

Best KonicaMinolta Digital Cameras

 

 

 

 

 



 

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