Olympus picks Vietnam for next digicam plant

Japanese camera maker Olympus Corp. is set to construct a digital camera plant in Vietnam in late 2008, according to an AFP report quoting an unnamed company representative.

"We will build a manufacturing base in Vietnam... as we aim to secure enough [production] capacity for digital cameras," the representative said.

Investment will reportedly be around $44 million.

The spokesman likewise clarified that the Vietnam plant will be in addition to company's two existing factories in China.

Olympus is yet to announce details of the announcement, including the exact location of the Vietnam factory and planned production volume.