Olympus has announced plans to build a new digital camera plant in Vietnam owing to growing global demand, according to unconfirmed press reports.

Construction will start in the latter part of 2008, according to a report by news agency AFP.

According to the AFP article, an Olympus spokesman denied an earlier Japanese press report which stated that Olympus would consolidate two of its Chinese factories into one and transfer some operations to the base in Vietnam, ?where labour costs are lower?.

The unnamed Olympus official told AFP that the Vietnamese plant would exist in addition to the Chinese factories.

At the time of writing we had yet to receive an official comment from Olympus UK.

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