Oki Electric Industry Co. said Monday it has developed a small automated teller machine suitable for installation at small branches of Chinese financial institutions and convenience stores.
The ATM -- measuring 47 cm wide by 75 cm high -- is 30 percent smaller than the firm's existing ATM model for the Chinese market, the company said.
Oki Electric said it hopes to cash in on an expected ATM demand increase in China, where brisk industrial infrastructure construction is fueling economic activity prior to next year's Beijing Olympics and an international exposition in Shanghai slated for 2010.
The firm plans to sell 10,000 units of the new model by 2010 after launching it later this month.
The size reduction was achieved partly by adopting a cash recycling method in which deposited bank notes can be reused for withdrawals.