Japan's Canon to build new plant for digital cameras
Japanese electronics giant Canon plans to build a new factory for digital cameras amid growing competition from domestic and foreign rivals, a report said.
By Agencies |
TOKYO: Japanese electronics giant Canon plans to build a new factory for digital cameras amid growing competition from domestic and foreign rivals, a report said Friday.
The firm will invest 15 billion yen (140 million dollars) in the plant in Nagasaki, western Japan, to produce compact and single-lens reflex cameras, the Nikkei business daily reported without naming its sources.
A Canon spokeswoman said the company will make an announcement next week in Nagasaki on the plant but declined to give further details.
The plant, which will operate under a subsidiary, is scheduled to begin operating in late 2009 with a production capacity of four million units a year and a workforce of more than 1,000, the daily said.
It will be Canon's first new domestic camera production site in 26 years as the company aims to keep its leadership in the fast-growing market, it added.
Canon has set a target to sell 29.4 million digital cameras this year, helped by rising demand in emerging economies.
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