Olympus to cut digicam production costs|
(Monday, June 6, 2005 - 10:13 EDT)
An article from Bloomberg.com predicts that Olympus Corp. will cut digital camera production costs by almost one third this year in an effort to return to profitability.
The company posted its first ever annual loss last year, and unveiled a $121 million cost-cutting plan including heavy job cuts at its camera unit, with most of the cuts expected in China. The company is now apparently aiming to reduce digicam production costs by 30%, to stay ahead of the expected 15% to 20% decline in retail pricing this year.
Further details can be found in the Bloomberg article.