Olympus announced that it has decided to stop production of its low-end V series of compact cameras, facing increased competition from smartphones with improved photographic capacity.
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Olympus quits low-end camera business
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Sony revealed that it had taken its first annual profit in 5 years. The weakening Yen made Sony’s products cheaper for overseas buyers, and boosted product sales.
Western Digital and SanDisk Corporation announced that the two companies are collaborating on a project that will attempt to bring hybrid storage devices to the market, combining SanDisk’s flash memory technology and WD’s hard drive technology.
Brother Industries Ltd. announced on April 15 that it will buy the document imaging business of Eastman Kodak Co., including scanner operations, for about $210 million. Brother and Kodak have signed a preliminary contract for the purchase, that will be carried out if Brother wins a court-supervised auction for the business, as Kodak is currently in a court-led rehabilitation process.
Sharp Corp. that had secured a combined 360 billion yen (US$3.673 billion) in loans from its two main banks in September last year on a condition that it would turn an operating profit in the second half, likely generated slightly more than 20 billion yen (US$204 million) in group operating profit in the FY12 2nd half (October-March 2013), surpassing the standing projection of 13.8 billion yen (US$140.8 million). It cut labor costs in the second half by offering early retirement packages to about 3,000 workers and lowering the salaries and bonuses of remaining employees.