Konica Minolta Pulls Plug on Camera, Film Business

Japan’s Konica Minolta Holdings Inc. said on Thursday it would withdraw from the camera and color film businesses, marking the end to one of the best known brands in the photography world.

As part of the surprise move, Konica Minolta said it would sell a portion of its digital single lens reflex (SLR) camera assets to Sony Corp. for an undisclosed sum and cease production of compact cameras by March.

Reuters - Konica Minolta pulls plug on camera, film business

Since July 2005, Sony Corporation (Sony) and Konica Minolta Photo Imaging, Inc. (Konica Minolta PI) have been working on the joint development of digital single lens reflex (SLR) cameras. Sony, Konica Minolta Holdings, Inc. and Konica Minolta PI are pleased to announce that they have decided to transfer a certain portion of Konica Minolta PI’s assets related to digital SLR cameras to Sony, and at the same time, that Konica Minolta PI will consign its customer service operation for Konica Minolta cameras and related products* to Sony. Agreement to this effect was reached today.

Sony - Partial Transfer of Certain Assets Related to Digital SLR cameras