Ricoh officially denies the rumors saying it’s “shrinking” the camera business

Today Asian Review posted a surprising “rumor” about Ricoh-Pentax:

Ricoh is shrinking its money-losing camera business to concentrate resources on commercial applications as smartphones continue to crowd out long-established names in photography.

But Ricoh quickly reacted and said that the info posted by Asian Review is “not a fact”. That said Asian Review has quite a good track on insider info. So maybe while Ricoh is correct in saying this is not a fact yet it may be that it it’s under consideration and could become a fact soon :(

UPDATE: Ricoh announced that it will revise downward forecasts for the fiscal year. They also announced that it will focus resources on high value added products such as PENTAX and GR.