Olympus announced that it has decided to stop production of its low-end V series of compact cameras, facing increased competition from smartphones with improved photographic capacity.
Blaming lower-than- expected demand, Olympus announced that its budget series of compacts will no longer be produced; its other point-and-shoot series, like the more specialized Tough range of under water cameras, and the popular X Z series of premium compacts, will still be produced as before. The move is expected to severely affect Olympus’ sales, but will also allow the company to focus on mid-range and high-end cameras, like the interchangeable lens PEN series.
