The worldâ€™s biggest camera maker is getting even bigger. Canon reveals that it is investing $450 million more to build a new factory right in Japan.
They broke ground last May; Canon said the new factory will rise on an existing site in Kanagawa Prefecture near Tokyo and is expected to go on stream in July 2008.
The new facility will double Canonâ€™s production of CMOS imaging sensors used in digital cameras. The new plant will have roughly the same annual production capacity as another factory in Kanagawa that can churn out 3 million CMOS chips a year.
Canon aims to make 24 million digital cameras this year, including 3 million digital SLRs.