Ailing Olympus hunts for new camera markets

May 29, 2014

Ailing Olympus hunts for new camera markets

Olympus Corp. said it’s looking for new camera markets such as sensors used in cars after forecasting a loss in the business for this fiscal year — its fifth straight annual deficit. The scandal-tainted camera maker, also the world’s biggest endoscope supplier, will spend ...

Apr 9, 2014

Banks sue Olympus for ¥27.9 billion over fraud

Olympus Corp. said Wednesday it’s being sued by six banks for a total of ¥27.9 billion in damages, the largest amount among civil lawsuits filed against the camera and endoscope maker over a 13-year accounting fraud. The banks are seeking compensation for damages resulting ...

Mirrorless the new focus at Olympus

Sep 11, 2013

Mirrorless the new focus at Olympus

Scandal-tainted Olympus Corp. has no immediate plan to renew lineups of conventional single-lens reflex cameras, President Hiroyuki Sasa said Tuesday. “For the time being, we have no intention” to introduce new models, Sasa said at a press conference in Tokyo, suggesting that the company ...

Olympus fears compact camera sales will keep falling

May 23, 2013

Olympus fears compact camera sales will keep falling

Olympus Corp. fears sales of its compact cameras may fall by half next fiscal year, extending a decline as consumers increasingly use smartphones to take pictures. Volume sales will drop to about 1.35 million units as early as the year starting in April, Chief ...

Apr 24, 2013

Court to rule on Olympus execs in July

The Tokyo District Court will hand down rulings July 3 on former Olympus Corp. Chairman Tsuyoshi Kikukawa and two other defendants who have been accused of covering up the company’s massive investment losses. The financial scandal came to light in October 2011 when then ...