Japanese manufacturer Sanyo Electric Co. said on Thursday it has raised its digital camera output target for the year to March to 6.5 million units from 6.0 million, as market growth continued to outpace expectations.
The company says strong sales of digital cameras and photo-taking cell phones also helped its U.S. sales during the Christmas shopping season pull even with last year's, despite worries over weakening consumer spending, Sanyo President Yukinori Kuwano said.
Mr. Kuwano said he was confident the company would hit its target to sell 8.4 million cell phones in the business year to next March, up from last year's 5.7 million units.
The company's new target for digital camera output would mark a 44-percent rise from 2001/02, while a further gain of more than 50 percent, to 10 million units, is targeted for next year as it expands production in China and Indonesia.
Although Sanyo claims a 30-percent share of the world's digital camera market, it does not make its own lenses and supplies more than 90 percent of its output to other companies such as Olympus Optical Co on an original equipment manufacturing basis, rather than selling under its own brand.
Mr. Kuwano said he had no plans to change that strategy. (Reuters)
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