Printed from http://www.electronista.com

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 Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News