Konica Minolta to drastically cut digital camera business
Looks like Konica Minolta are going to decrease their digital camera department to try to cope with tough price competition and less demand.
This seems to be due to the report that said digital camera sales will slow down in 2006.
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
Good luck to the company and the people they are laying off. 