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Canon to Invest 10 Billion Yen in Taiwan to Make More Cameras

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July 4 (Bloomberg) -- Canon Inc. will build a new factory and expand another in Taiwan to make more cameras with interchangeable lenses, the fastest growing segment of digital-imaging devices.

Canon, the world’s biggest camera maker, will spend about 10 billion yen ($124 million) on the expansion, Takafumi Hongo, a company spokesman, said in a telephone interview. Canon forecasts sales of about 7 million single-lens reflex cameras this year, compared with sales of 5.9 million last year, he said.

Shipments of SLR cameras jumped 30 percent last year, more than double the 13 percent gain by compact models, according to the Camera & Imaging Products Association, a Tokyo-based industry group. Canon had the biggest share of the market, with 44.5 percent, research company IDC said in April.

The Nikkei reported Canon’s plan to build the Taiwan factory earlier today.

To contact the reporter on this story: Yuki Yamaguchi in Tokyo at yyamaguchi10@bloomberg.net

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net

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