Yes, as if the flagship dslrs were made in China
If the article is correct, it sounds as though the factory made compact cameras and consumer lenses. My take: closing a factory means they don't expect the products to rebound and they don't have another product line that can be readily shifted to the factory. It likely means a permanent reduction in manufacturing capacity.
For those who constantly post figures from past years to show the health of consumer-level DSLRs (Rebels), this is why I say that figures from past years represent what the sales were at that time, not what they are today. The market is shrinking and Canon is increasingly reliant on the higher-end enthusiast market. It may not represent the bulk of their camera business by volume, but it is where the trend lines are headed.
Question is: what compromises/cost cutting will be needed to sustain the enthusiast segment as camera companies bleed customers at the low-end (to smart phones) and professionals (with the ever-shrinking base of photojournalism, sports and professional photographers.) And, since the high discretionary income enthusiast base is aging out, what is the future?