Why it matters to you
As Nikon continues restructuring, it achieved a profit increase, but only from closing a plant that made compact cameras.
Imaging giant Nikon is closing one of its manufacturing centers. On Monday, October 30, Nikon announced the closure of the subsidiary Nikon Imaging China Co. Ltd. (NIC) as part of a restructuring process that began last November, citing a shrinking demand for compact digital cameras. At the same time, the company announced an updated financial forecast with higher-than-expected profits.
The China-based subsidiary manufactured compact cameras and lenses. In recent years, however, due to the rise of smartphones, the compact digital camera market has been shr…
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