On May 7, Olympus Corporation announced that it would shut down its Chinese production subsidiary of the company's video business and consolidate the production of digital camera business related products in Vietnam.

Its digital camera business related products were produced at Olympus (Shenzhen) Industrial Ltd. (OSZ) in Shenzhen, China and Olympus Vietnam Co., Ltd. (Olympus Vietnam) in Vietnam Donnan Province Due to the decline in profits for OSZ due to the shrinking digital camera market and the difficulty in maintaining competitiveness due to aging of facilities, Olympus decided to move all production to Olympus Vietnam.

Interesting news, it is strong rumors that Panasonic and few other companies soon will follow. Some of companies are considering poorest countries in the world as possible option also.