TOKYO -- Nikon plans to shutter a digital camera factory in China as increasingly sophisticated smartphone cameras undercut the market for cheaper compact models.
The Japanese precision equipment manufacturer will make an official decision at a board meeting Monday. The Jiangsu plant, which employs some 2,500 workers, turns out entry-level compact digital cameras and interchangeable lenses for single-lens reflex cameras. Some production will be outsourced and Nikon will continue to sell cameras in China, where it controls nearly 30% of the market.
