Samsung makes pretty good digital cameras. Although I have never seen a Samsung camera in anyone’s hands, it is a pretty good business for Samsung which has divisions ranging from washing machines to shipbuilding manufacturing. But the camera division has been bleeding to death for quiet sometime now and Samsung might be seriously considering to close this business and prevent further financial loss.
This news comes close on the heels of the quarterly report of Samsung that saw a rare profit growth after continues decrease for 7 quarters. Now Samsung want to mark all the divisions that aren’t returning the investment and is considering to close them permanently to make the company lean and return to profit growth.
Further reports suggest that the Samsung website hasn’t been updated with the new cameras for quiet sometime and retailers in Portugal have stopped stocking up the camera devices. This is a sensible move from Samsung. The employees of the camera division are most likely to be shifted into the smartphone and medical division.
The digital camera industry is dominated by heavyweights such as Sony, Nikon and canon who are more experienced and have advance technology. Competing with them isn’t a sensible move in the traditional style and Samsung concentrates its resources on the smartphone and semiconductor division. The camera division has been losing money since the launch of the NX range of mirrorless camera.
Samsung isn’t commenting on the rumours when contacted and may officially release a statement announcing the closure of the camera division until further notice.