When Olympus Corp. announced in June that it was selling its 84-year-old camera business to an investment fund, many camera lovers were in shock.
But analysts who closely watch the industry saw it coming. Standalone cameras just aren¡¯t used that much anymore. When people take snapshots, they¡¯re using smartphones, not the bulky devices Olympus and other dedicated camera-makers are producing.
The demise of Olympus was simply a reminder the market for digital cameras, dominated by Japanese, is in dire straits and stuck in a downtrend that hasn¡¯t hit bottom yet.
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