I’ve owned Minolta cameras my whole life. Guess I need a new brand. Minolta is abandoning the camera market.
TOKYO (Reuters) – Japan’s Konica Minolta Holdings Inc. (4902.T) said on Thursday it would withdraw from the camera and color film businesses, marking the end to one of the best known brands in the photography world.
As part of the surprise move, Konica Minolta said it would sell a portion of its digital single lens reflex (SLR) camera assets to Sony Corp. (6758.T) for an undisclosed sum and cease production of compact cameras by March.
The company said it would stop making photographic film and color paper by March 2007, pulling out of a market shrinking more than 20 percent a year due to the spread of digital cameras, which don’t use film to store images.
Yeah, I know it’s not a topic I normally blog about. But, hey, it was my brand of choice for cameras…