Canon to boost China output of digital cameras
TOKYO (Reuters) - Canon Inc (7751.T) said on Friday it planned to boost production of digital cameras in China and build a new laser printer plant in Vietnam, aiming to meet booming demand in developing countries.
Canon is looking to double its production capacity of compact digital cameras at a factory in China's Guangdong province to 10 million units a year by 2009, said a company spokesman, who declined to be identified.
The sharp boost in output of the cameras, which are priced around 20,000 yen ($195), would lift Canon's global digital camera production capacity by around 20 percent and help it cement its position as the world's biggest maker of digital cameras.
Canon shipped 24.6 million digital cameras in 2007.
It will also invest 5 billion yen ($50 million) to build a new factory in northern Vietnam which will assemble low-cost printers. The investment figure for the China output boost was not disclosed.
Canon shares fell 1.7 percent on Friday to 4,560 yen, outperforming a 2.9 percent fall in Tokyo's benchmark Nikkei index .N225, as a stronger yen hit export stocks. .T
($1=102.64 Yen)
(Reporting by Edwina Gibbs; Editing by Rodney Joyce)
