Konica Minolta quits photo market

BBC (via Slashdot):

Japanese photographic equipment maker Konica Minolta has announced plans to withdraw from the camera business.

Konica Minolta said the market had become too competitive, and added it would sell its digital camera business to Japanese electronics giant Sony.

Konica Minolta is planning to cut 3,700 jobs, or 11% of its workforce, by 2007 as part of a restructuring drive.

Earlier in January, fellow Japanese cameramaker Nikon said it would stop making most of its film camera line.

Instead, Nikon intends to focus most of its effort on digital cameras.

All I gotta say is you’d better stock up on 35mm film if you’re still using it… because at the rate it’s going you won’t be able to find any this time next year. I guess it’s not surprising, but the speed at which digital technology disrupted the camera business is astounding even to me.

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