Panasonic Disbanding Digital Camera Division
Sad news from Panasonic today as the electronics giant announces that they will be disbanding their digital camera devision. Panasonic are the latest in a string of manufacturers to announce restructuring plans in the face of a downturn in the digital camera market place and will be reducing staffing levels and placing camera operations under the umbrella of other devisions.
“Panasonic plans another round of restructuring of unprofitable businesses, responding to sinking profits with the same prescription that has restored the ailing giant to health before. Yet the company will need more than cutbacks to thrive in an electronics industry searching for new growth avenues as prices slide.”
It is always a shame to hear of industry stalwarts struggling within the shrinking marketplace, especially those who have shined so brightly over the last few months; The GH5 has been a resounding success, but unfortunately one good flagship camera does not equate to a profitable business.
“Three other businesses units — digital cameras, private branch exchange telephone systems and optical disk drives — will be dismantled. Each will be scaled back and placed under the umbrella of other operations, with headcount to be reduced.”
Lets hope that this round of restructuring allows Panasonic to keep creating great cameras.