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November 10, 2005

Olympus follows KM Slump

In the wake of Konica-Minolta's loss reports, Olympus has indicated that profits fell 68 percent from the previous year in the first half of 2005. Revenue was helped somewhat by strong sales in medical equipment, but Olympus' workforce did not escape unscathed; 4,000 jobs will be cut. Overall, the company's management has acknowledged that market saturation has made the compact digital market unprofitable. Olympus now seeks to make gains in the Digital SLR segment, but their plans are ambitious - to grow from a 3% sales level to 30% within 5 years.

Posted by covey22 at November 10, 2005 4:00 PM