Konica-Minolta to reduce camera business
On March 25, 2005, Konica-Minolta Holdings announced that they will trim their photo imaging business to try and stem the flow of red ink currently totaling 9 billion yen. They will reduce their paper and film business and concentrate on high value-added digital cameras. They will also expand their “digital on-site” business that offers printing services at camera shops and photofinishers.
They plan to reduce their photo imaging business by 40 percent by fiscal 2008 and operate 2 billion-yen in the black by then.
Reduced competitiveness of their digital cameras and shrinking demand for film and paper are cited as causes of the red ink.