Ricoh has announced it will expand its range of Theta cameras in the growing VR – AR market despite reporting company losses of $90 million in the last fiscal year.

Just days after it was reported that Ricoh could be planning to exit the imaging market altogether, the company has said it plans to expand its ‘market leading’ Theta action cameras.

What’s more, the company says it plans to expand its overall imaging business to the B2B market.

The announcement follows a decision to revise the company’s downward forecasts after losing $90 million in the fiscal year that ended on 31 March.

Ricoh also plans to follow the path of Nikon and Panasonic and has embarked on a structural reform of the business that will see it consolidate its production bases and processes.

Via DC.Watch

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Jeff Meyer
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Jeff is our Website Editor. He's been a journalist for more than 20 years and began taking pictures as a teenager in the US with an old Pentax K1000 and a 50mm f/1.4 lens.

He has worked for the UK’s photography press for the past 10 years with Amateur Photographer and, most recently, editing Photography Week and the Digital Camera World website.

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