Nikon closes compact camera factory in China
Nikon announces on Monday (October 31) that it will be closing its compact camera factory in eastern Wuxi City, Jiangsu Province, which employed nearly 2,300 people.
In a statement from Nikon, they stated that in recent years, due to the rise of smartphones, the compact digital camera market has been shrinking rapidly, leading to a significant decrease in operating rate at NIC (Nikon Imaging China) and creating a difficult business environment.
Nikon is now planning to focus more on producing high-end cameras such as DLSRs and full-frame mirrorless cameras.
Source: Channel NewsAsia