Ricoh denies Nikkei report that it may leave camera business
Ricoh has issued a response to a report from the Nikkei Asian Review, denying that the company is considering leaving the consumer camera business. Ricoh's statement says that it will focus its attention on 'high added value products' in its Pentax and GR lines. Additionally, the company says it plans to keep expanding its VR business, where it sees plenty of growth.
Nikkei's article suggests the company considered, or is considering, a more drastic approach:
'The Japanese company will radically review a production and manufacturing strategy centered on cameras for the retail market, including such brands as Pentax and GR. Options include withdrawing from this segment altogether.'
An investor relations presentation published by Ricoh today only directly mentions the company's camera division once, indicating that Ricoh will 'leave no stones unturned' in examining losses in its camera business. But the overall tone of the document indicates that the company is looking to break from past approaches to structure and growth.
The Nikkei article and Ricoh's statement seem to be in agreement that the company is looking to expand into commercial applications. Nikkei mentions that Ricoh plans to use spare capacity at compact camera production facilities to increase production of automotive products.
Below is Ricoh's full statement addressing the article:
With regard to the article about RICOH today
Apr. 12, 2017
Today there was an article saying that RICOH considers to shrink the camera business and withdraw from consumer products. This article is not based on RICOH's official announcement.
RICOH is focusing its resource on the high added value products such as PENTAX and GR that are appreciated by the existing users and photo hobbyists. RICOH is also a market leader of input deviceｓ in the VR or AR market with its "RICOH THETA" where we can see rapid growth, and will keep on expanding the business even more in this field. In addition, RICOH will develop and expand the imaging business in the solution business field for corporate, by creating new market utilizing its own camera technology.
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