Konica Minolta aiming to shine in China
Japan based camera maker Konica Minolta are now planning to expand their operations in the expanding Chinese market. Konica Minolta has planning to establish a new sales company in Shanghai to market lenses for cell phones. The companyâ€™s optic unit has invested as much as 500,000 dollars in this business stream and plans to en-cash the growing popularity of digital cameras in China.
Konica Minolta expects this business stream to generate sales of 10 billion yen (90 million dollars) by March 2007. These lenses would be mainly manufactured in companyâ€™s factories in Japan and it would also be outsourcing some of the requirement from China and other markets.
The company said in a statement: “The formation of the new company was completed this summer and it will start operating fully later in the yearâ€. Konica Minolta also plans to market lenses for digital cameras in the future through this branch. They have big expectations from this market with projected revenues of 170 billion yen by 2009.