Olympus is selling off its camera business, blaming the rise in smartphone photography and the impact of COVID-19 for its decision. The company has inked a deal with Japan Industrial Partners (JIP), which bought Sony’s VAIO computing division back in 2014.

The deal is expected to close by the end of the year, and see the Olympus Imaging business transferred to JIP at that time. Despite the planned changes, however, Olympus says that it still has new products planned for announcement, though it hasn’t dropped any hints as to what they might be.

Certainly, it’s a tough time right now for legacy camera-makers. The rise in smartphone photography has been instrumental in pushing dedicated cameras to the sidelines.
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