Core business in the dawn of the Information Age

I had to read this heading twice!

"Konica Minolta to withdraw from Camera & Photo businesses"

This is what I found on their web site.

Konica Minolta Group is aiming to become more powerful corporate group by swiftly meeting market changes and pursuing “selection and concentration”. We will, from now on, be concentrating our business resources on non-consumer businesses, such as the core “business technologies” field, the strategic “optics and display devices” field, and the growth expected “medical imaging” and “sensing” fields, increase competitiveness, and endeavor to further expand corporate value.

and

Outline of camera business

Main business: Manufacturing, sale, and related services of photographic equipment such as digital cameras, film cameras and lenses

Fiscal year ended March 31, 2005:
Net sales: 117,000 million yen (Forecast for fiscal year ending March 31, 2006 is 75,000 million yen)
Operating Loss: 7,300 million yen


Outline of photo business

Main business: Manufacturing, sale, and related services of consumer and commercial photographic materials, inkjet media, and related equipment

Fiscal year ended March 31, 2005:
Net sales: 151,500 million yen (Forecast for fiscal year ending March 31, 2006 is 110,000 million yen)
Operating Loss: 1,400 million yen

These sales are expected to drop by about 30% year-on-year and that is a lot of red ink!

These companies have been in the line of business for like 100 years! My Mother's 21st birthday present from my Grandfather was a Minolta camera (that she still keeps in working order for sentimental reasons). This is a big move.

The Information Age keeps rolling on!