Japanese camera maker Nikon is shutting down its compact digital camera factory in China, as an increasing number of people are now using smartphones to take pictures.
Nikon officials announced that they would halt operations at their Jiangsu Province facility on Monday.
Nikon posted a net loss at the end of the fiscal year in March, its first in 7 years.
Nikon officials stress that they will shift their focus to high-value-added products.
The Camera and Imaging Products Association says shipments of compact digital cameras exceeded 100 million units in 2010.
But last year, the number had dropped to around 12.5 million, due to the increasing popularity of smartphones.
Nikon officials announced that they would halt operations at their Jiangsu Province facility on Monday.
Nikon posted a net loss at the end of the fiscal year in March, its first in 7 years.
Nikon officials stress that they will shift their focus to high-value-added products.
The Camera and Imaging Products Association says shipments of compact digital cameras exceeded 100 million units in 2010.
But last year, the number had dropped to around 12.5 million, due to the increasing popularity of smartphones.
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