Hi folks,
Thought you might be interested in the following press item I stumbled across.
Any thoughts/comments?
Best,
Greg L.
JAPAN'S OLYMPUS TO RESTRUCTURE ITS DIGITAL CAMERA BUSINESS
11/22/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.
TOKYO, Nov 22 Asia Pulse - Olympus Optical Co. (TSE:7733) said Wednesday it
will restructure its loss-making digital camera business, hoping to restore it
to the point where it will break even on an operating basis in fiscal 2002.
The company will begin producing digital cameras in China and reduce the number
of models it offers to 10 from the current 15 in order to cut costs. It also
aims to increase sales of lenses, printers and other peripherals to 50 billion
yen (US$406 million) in fiscal 2005 from the current 15 billion yen.
It will confer with other companies on the idea of standardizing lenses for
digital cameras to make them interchangeable.
The company is also considering cooperating with Eastman Kodak Co. of the U.S.
in the area of Internet-based digital printing
Olympus's revenues from digital cameras are seen growing 23 per cent to 135
billion yen in the current fiscal year, but an operating loss of 11.2 billion
yen is projected -- the firm's second consecutive operating loss.
Olympus has an assembly subsidiary in Shenzhen, China that will begin to
produce 30,000 cameras a month next spring.
(Nikkei) 22-11 1254
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