Japan’s Canon Inc., one of the world’s largest camera manufacturers, has announced the formation of a new subsidiary to begin production in Brazil. Under the name of Canon Industria de Manaus, the unit will be making compact digital cameras in the Brazilian city of Manaus. This will also be the first time Canon begins production in South America.
In the announcement made on Monday, Canon said by the end of next year they hope to have a workforce of at least 60 people, and operations are already scheduled to begin in July of 2013. Canon settled on opening local production after realizing that Brazil represents the world’s fourth largest digital camera market, coming in after the United States, Japan, and China. Not only that, but the demand for cameras is only expected to increase rapidly with Brazil hosting both FIFA’s 2014 World Cup, and the 2016 Summer Olympics in Rio de Janeiro.
Previous to this, Canon was exporting their digital cameras to Brazil from factories in China and Malaysia. The camera manufacturer isn’t the first consumer electronics company to begin production in Brazil. In the last year, Apple also began producing its popular iPhone and iPad devices in the country, both for lower costs and quickly expanding market.