Even though we ARE Nikon lovers,we are NOT affiliated with Nikon Corp. in any way.


Sign up Login
Home Forums Articles Galleries Recent Photos Contest Help Search News Workshops Shop Upgrade Membership Recommended
members
All members Wiki Contests Vouchers Apps Newsletter THE NIKONIAN™ Nikonians Press Magazines Podcasts Fundraising NikoScope Search About us

« Roberts Imaging Joins the Nikonians Team |Main| Fujifilm USA Halts S3 Pro Buffer Upgrade »

April 24, 2006

Mamiya Departs the Imaging Market

Imaging News has broken the story that Mamiya has sold off it's optical division, having found that digital cameras and in particular digital SLRs, had made it's medium format line overly expensive and unprofitable.

The departure marks yet another industry giant casualty from the inevitability of digital conversion. Mamiya had recently launched the ZD SLR in hopes of regaining market share. However, the board of directors was not swayed after noting four consecutive quarters of steadily declining losses, and announced the sale of the optical instruments business to Cosmos Scientific Systems Inc. Pending a June approval by shareholders, the sale will be concluded by September of 2006. As part of the deal, Cosmos will take on all unit assets, patents, trademarks, certain debts and post-sales support responsibilities. Mamiya did not disclose any figures around job losses but notes a "considerable number" of employees will transfer to Cosmos as part of the sell-off.

Posted by covey22 at April 24, 2006 9:26 PM