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It looks like Konica Minolta will be cutting back on it's digital camera business with Japan Today reporting:
'Camera and office automation equipment maker Konica Minolta Holdings Inc said Friday it will drastically cut its photo imaging division, including digital cameras, to cope with slower growth in domestic demand and tougher price competition.
In line with the business restructuring plan, the company will cut 3,300 jobs out of its current group workforce of 33,000. In its medium-term business plan announced in March, Konica Minolta said it will concentrate its digital camera business on production of high-value-added products, such as digital single-lens reflex cameras, over four years starting in fiscal 2005.'
Posted by Darren in our News category on November 05, 2005