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Konica Minolta exits camera business, transfers assets to Sony

dartworth

dartworth

Lifer
TOKYO ? Konica Minolta Photo Imaging Inc. is exiting the photography business by March, and its digital single-lens reflex cameras business will be transferred to Sony Corp., which is seeking to reinforce its position in the SLR camera market. Konica Minolta will cut about 3,700 jobs, about 11 percent of its total work force in Japan and overseas, by September 2007. Konica Minolta was founded in August 2003 by merging Konica Corp. and Minolta Co. Ltd.. Konica has been in the business for 130 years; Minolta for 75 years. The joint effort was a victim of declining SLR camera sales.

The company's camera and photo business lost ¥9 billion ($78 million) in the last fiscal year ending in March 2005. Sales were expected to shrink further in the current fiscal year, so the company decided to withdraw from the photography market and concentrate on office systems.

Konica Minolta joined with Sony last July in SLR camera development, hoping to reinforce its image sensor technology. Despite transfering its camera business to Sony, the company will retain its patents for it "Maxxum/Dynax" lens mount system developed by Minolta in 1985. Sony will license the technoloy.

source

 
Sad, such a long history those two companies had of providing good camera products. But I'm interested to see Sony get into the DSLR market. With their muscle I can see them easily competing at the low end entry point, which is great for us who settle in that region.
 
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