AAPL Stock: 109.62 ( -1.69 )

Printed from

Olympus may sell camera group to escape scandal

updated 10:35 pm EST, Tue November 29, 2011

Company considering significant restructuring

Olympus is reportedly considering a number of significant restructuring strategies, which may bring the company to find a buyer for its consumer camera division. The Japanese company is currently reviewing its business structure in an attempt to survive an accounting scandal that is believed to involve as much as $4.9 billion in hidden losses.

Several teams are said to be investigating possible methods to keep the company afloat as its books are corrected. The medical endoscope division represents the company's core business, bringing profit while the camera group operates at a loss.

Olympus recently admitted to running a cover-up scheme to conceal losses through advisory fees and acquisitions dating back to the early 1990s. The scandal is believed to involve Japan's yakuza, a factor that is said to increase the possibility of delisting from the Tokyo Stock Exchange.

Camera companies are said to be closely monitoring the situation, however Olympus has yet to finalize plans to divest assets. [via Reuters]

by MacNN Staff



Login Here

Not a member of the MacNN forums? Register now for free.


Network Headlines

Follow us on Facebook


Most Popular


Recent Reviews

Polk Hinge Wireless headphones

Polk, a company well-established in the audio market, recently released a new set of headphones aimed at the lifestyle market. The Hin ...

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...


Most Commented