Samsung gives up their digital camera business

Samsung gives up their digital camera business

The Investor revealed that Samsung recently planned to stop producing and selling traditional digital cameras due to the tough digital camera market. Since Samsung release the mirrorless camera NX500 in March 2015, there is no new entry launched in the camera market.

Samsung began to produce their own digital camera since 1997 and hit its peak in the mid-2000s. Unfortunately, from an industry source, they said that Samsung has lost its competitiveness in the entry segment with smartphone, while Samsung also struggles in the premium market. So, it seems like Samsung have no choice but to leave the market.

However, Samsung is trying to create a new camera product category to continue their business. Which means these cameras will go into mobile devices such as the Samsung’s Gear 360 camera and other virtual reality technologies product.

source