Panasonic Moves to Bail Out Olympus to the Tune of $635 Million

Sections: 3D, Movies

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Last fall, Olympus, best known in the United States for its cameras, reeled from a $1.7 million accounting scandal, and they’ve been struggling to keep the doors open ever since. In comes Panasonic, with an eye on the company’s lucrative medical device division, and what might just be the ticket to returning the company to solvency.

In Japan, the brands we know as simple electronic companies tend to be wildly diversified: Toshiba Backhoes, Panasonic Elevators, you name it–so it’s no surprise to see Panasonic looking to become a major shareholder in Olympus. Besides, I’m sure that their know-how can only help Panasonic’s professional camera division get a leg up on the competition.

Via: [Engadget]

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