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Olympus c360z lens off the rollers?

My c360z zoom lens has 'gone off the rollers' so the camera no longers functions. It turns on but then just beeps for a fault.
I've tried taking it apart but the lens housing looks like it contains some quite complex stuff. Has anyone tried fixing this type of thing before and had success, or not?
Any help would be appreciated.
cheers, Supercrump.

PS the local camera shop guy says it's not worth sending for repair as they go out to Portugal and cost a bomb to fix. Cheaper to buy another he reckons.
supercrump, August 2005
I've got a similar problem with a similar answer..
My Olympus 35-200 lens has grown some kind of bacteria on the inside and the camera shop said the same.. not worth the price of fixing because a new one is cheaper...
probably the best way to go i'd say..

Erin, September 2005
link Click here to see other fixes for Olympus.