The Olympus tie-up with Sony is set to boost the product and price competitiveness of the firmsu2019 cameras, according to plans outlined today.

Olympus president Hiroyuki Sasa said the ‘mutual supply of key components’ will ‘strengthen the competitiveness of product/price’.

Sasa made the comments at a meeting in Tokyo earlier today, three days after Olympus announced its alliance with Sony in a £400m deal.

Meanwhile, Olympus plans to plough on with its focus on mirrorless interchangeable-lens cameras and ‘high-end’ compacts, in accordance with a previously announced restructure of its imaging business.

Outlining details of the business and capital alliance, Sasa added in a presentation: ‘By combining the two companies’ strengths through an alliance in the medical and digital camera businesses, we aim to enhance the corporate value of each company.’