Nikon shuts down camera factory in China, blames 'the rise of smartphones' ...

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The Nikon board of directors announced plans to close Nikon Imaging (China) Co., LTD (NIC)—a subsidiary based in Wuxi City, Jiangsu, China, where NIC employed some 2,500 workers at a factory that produced compact digital cameras and DSLR lenses. The closure, says Nikon, is due to "the rise of smartphones" and the "rapidly shrinking" compact camera market.

Nikon's announcement of the closure lays the blame for this cut squarely on the shoulders of the smartphone revolution.

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