World's biggest camera brands, Olympus, quit camera business after 84 years
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One of the world's biggest brands- Olympus is selling off its camera business after 84 years. The Japanese company said despite its efforts, the extremely severe digital camera market was not profitable anymore and the arrival of smartphones had shrunk the market for separate cameras. The firm recorded losses for the last 3 years. The market for standalone cameras had dropped drastically by 84% between 2010 and 2018.