Back in 2015 we heard the rumors that Samsung was apparently planning on closing its camera division, which suggested that the company could be thinking of exiting the consumer camera business. The company later denied that they would be exiting the market, but a report from The Investor is saying otherwise.
According to the report, it quotes a Samsung official who spoke on condition of anonymity. According to the official, “We no longer produce and sell digital cameras. But we will create a new camera product category to continue the business.” From what we can tell, it sounds like Samsung isn’t producing anymore digital cameras, but apparently the company is planning a “new camera product category” (whatever that means) for the future.
While Samsung has denied exiting the market in the past, there has been quite a lot of evidence to suggest that the company is done with digital cameras, or at least the current lineup of digital cameras. This is due to the listing of some of Samsung’s cameras as being discontinued, as well as the pulling out of several markets.
The report from The Investor quotes an anonymous industry source who said, “Samsung lost its competitiveness in the entry segment with the robust growth of smartphone cameras. Even when Japanese big names such as Canon and Nikon who have more than 100 years of history are struggling in the premium market, Samsung seems to have no option but to leave the market.” Take it with a grain of salt, but with Samsung having not made a new digital camera of a while now, we wouldn’t be surprised if the report was true.