TOKYO -- Olympus Corp.'s announcement on June 24 that it plans to spin off its imaging unit, which makes digital and video cameras, and sell it to a private equity firm foreshadows a raft of similar moves ahead.
Japan's digital camera industry was once considered on par with the country's auto sector in terms of international competitiveness. But smartphones have driven camera makers to the brink of extinction, and this year the novel coronavirus slammed the already hobbled industry.
