Samsung has given its official reaction to reports that it is poised to ?spin-off? its ?loss-making? camera business into a separate company.
A Reuters report, published on 6 November, stated that Samsung is to set up a new company, tentatively called Samsung Digital Imaging.
The article added: ?Price competition with better-known Japanese camera makers such as Sony Corp and Canon Inc – and poor sales prospects amid the global downturn – have weighed on Samsung Techwin?s camera business, which is also saddled with heavy research and marketing expenses.?
In a follow-up statement, Samsung UK today confirmed that it plans to reorganise its digital camera business, as part of the worldwide move.
Samsung?s UK office told Amateur Photographer (AP): ?In the UK, from January 2009, digital cameras will form part of Samsung?s new digital imaging division, along with other products such as camcorders, and will be headed up by Robert King, currently director of Samsung?s camera division.?
Samsung claims to hold the number one position in the UK camera market and is aiming for a 20% slice of the global market by 2012.
It plans to achieve global sales of $5billion (US) by 2012, through ?heavy investment in R&D and marketing?.
Samsung UK tells us that its ‘number one’ position refers to the total number of cameras sold in the year to September 2008.
In the summer AP revealed that Samsung plans to launch a ‘hybrid’ interchangeable lens camera system, to rival the new Micro Four Thirds format, in the spring of 2010.
Earlier this year the firm hinted that it plans to launch a full-frame digital SLR camera.