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Olympus to cut camera production costs

By dpreview staff on Jun 6, 2005 at 09:33 GMT

Olympus is to cut production for digital camera costs by 30% due to fierce competition, reports Bloomberg. The news follows earlier announcements that Olympus, the world's fourth largest camera manufacturer, is to cut 4,000 jobs, 13% of its global workforce. The long term aim is to recover some profit after Olympus reported its first ever annual loss last month. The job cuts will save the company around ¥3 bn. Bloomberg says Olympus expects shipments of digital cameras to rise from 8.9m to 9.5m this year with the release of two SLRs aimed at pros and serious amateurs.

Click here to read the story from Bloomberg

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