There has been much speculation about the future of Samsung’s camera business, it has even been rumored that the company might shut this division completely to focus on more profitable divisions. It was recently rumored that Samsung had sold its NX camera technology to Nikon but now the company has issued an official statement to clear up the matter.

The fact that Samsung started winding up its camera business in several countries across Europe exacerbated rumors about an imminent demise of its camera division. Samsung recently bowed out of the camera market in Germany and the United Kingdom, saying that local market conditions were not favorable enough for it to continue.

This led some to believe that perhaps Samsung will agree to an acquisition of its NX mirrorless camera technology by Nikon but that’s not the case. Samsung has issued a statement saying that “Media reports that Nikon is allegedly buying our NX technology are not true.”

For its part Nikon said that it doesn’t comment on rumors so there was no confirmation or denial from the company following these reports which claimed that an announcement of the acquisition would be made at the International Consumer Electronics Show 2016.

Samsung has not yet said what the future plans for its camera business are, but at least for now they don’t involved selling off a key technology to a competitor.

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