Japanese company Hoya has agreed to sell its Pentax digital camera business to Ricoh, the companies announced today.
According to Japanese publication Nikkei Business Daily, Ricoh will pay Hoya 10 billion yen ($124 million) to acquire its Pentax operation.
Pentax is widely considered an also-ran in the digital camera business. The company's worldwide market share last year, according to IDC, stood at just 1.5 percent. For the most part, Pentax's digital single-lens reflex (DSLR) cameras lack advanced features found in the leading options from Nikon and Canon. However, Pentax cameras are typically quite affordable compared to their … Read more