Canon plans to produce more cameras in China, aiming to double its production of compact digital cameras at its factory in Guangdong to 10 million units a year by 2009.
The move is expected to add about 20 percent to Canon’s global digital camera production capacity further solidifying its position as the world’s biggest maker of digital cameras. In 2007, Canon shipped a total of 24.6 million digital cameras.
In another move, the company is building a new laser printer plant in Vietnam worth $50 million. The new factory in North Vietnam will be assembling low-cost laser printers.
Canonâ€™s twin expansion moves are timed to meet booming demand in developing countries in the region.
[Via: Yahoo News]
Photo Credit: Reuters