Canon is shutting down a major camera factory in China, returning to domestic production citing “facing unprecedented difficulties”

Canon is shutdowns a major camera factory in China (Zhuhai factory) citing “facing unprecedented difficulties” and returning to domestic production:

"Japanese camera maker Canon has decided to shut down its subsidiary in Zhuhai, South China's Guangdong Province, just ahead of the Chinese unit's 32nd anniversary on Saturday, according to media reports. The firm blamed a shrinking camera market globally and pressure from the COVID-19 pandemic." (Globaltimes)

"Japan's Canon Inc said on Friday it was considering shutting a factory in Zhuhai, southern China, which mainly makes compact digital cameras amid a shrinking market for such devices." Reuters

"The announcement, which was issued on Wednesday, said that “the operation of the company is facing unprecedented difficulties. Despite the joint efforts of the company and all employees, it has failed to reverse the situation." (Scmp)

"Canon plans to transfer production of high-end models, mainly office equipment, to Japan by FY12 / 2025. In the fiscal year ended December 31, 2009, production was reduced by about 25% from the planned production value at production bases mainly in Asia By increasing the production ratio in Japan, we will stabilize the supply chain and respond to the era of yen depreciation . By increasing the production ratio in Japan, we will stabilize the supply chain and respond to the era of yen depreciation." (Newswitch)

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