The Japanese camera maker put aside its plans to build a $180 million factory back in January in light of the economic downturn. However, reports that digital SLR sales are booming despite the recession, has convinced the firm to go ahead with the plant-build.
Demand for Canon’s high-end single-lens reflex cameras have remained strong, while the market in general has held up well while much of the technology sector has seen sales plummet as consumers cut back on high-end goods spending.
The building of the site is intended to begin in July, with the plant, which is expected to be located in Southern Japan, being operational by March or April 2010.
In April, global shipments of DSLRs increased by 8% from the same month a year before. Meanwhile, compact camera shipments fell by 24%.
Although Canon is going ahead with the plant build, it is expected to cut back its planned investment by a 'few billion yen.’ It was originally planning to invest some 17.4 billion yen in the project.
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