SEOUL, May 20 (Korea Bizwire) — Olympus Korea Co. said Wednesday it decided to discontinue its camera business in South Korea due to low profitability amid the shrinking camera market in the country.
The Korean unit of Olympus Corp., a Japan-headquartered firm that makes optics and photography products, said its camera business will cease operations from June 30. Its store and online shopping mall will also close next month.
Olympus Korea said it tried to improve its profitability with mirrorless cameras and interchangeable lenses, but as the camera market declined sharply in recent years, it decided to withdraw from the sector.
The company, however, said it will continue doing business in South Korea, with its focus now shifted to medical equipment and science solutions.
Olympus Korea sells endoscopy and surgical equipment,as well as microscopes.
In 2017, the company opened a medical training and education center in Incheon, west of Seoul.