You may hear about Japan Industrial Partner (JIP), the Japanese company that bought Sony's Vaio PC business, now also signed a Memorandum of Understanding with Olympus to get the camera business handed over. This division was a small part of Olympus' business, which comprises mostly the manufacture of medical equipment.
Actually, leaving the camera business is not surprised due to the hinted speech was revealed since 2019 in a press conference that said, the camera division can be sold, CEO Yasuo Takeuchi.
The reason for this decision is related to the operation of the business and rapidly developed in almost every aspect of smartphones nowadays, especially the camera. According to an official statement from the company “we had implemented measures to cope with the extremely severe digital camera market, due to, amongst others, rapid market shrink caused by the evolution of smartphones.” It seems, however, that those attempts have not been successful as the company will now be sold out.
JIP is expected to streamline the imaging division, similar to what it did with Vaio. In other words, the development of products will continue to take advantage of the Olympus brand, such as OM-D and Zuiko. By the end of September, Olympus and JIP will sign a final agreement with the entire agreement, which will be concluded by the end of this year. Unfortunately, Finer details and financial terms have yet to be revealed.
At this moment, we still don't know the plan to continue the camera business and how it will be after the business transfer is completed. Even though, JIP has made currently nothing great with the Vaio PC business.