Hewlett Packard has confirmed that it plans to stop producing its own digital cameras from the end of this year – describing the market as ?intensely competitive?.

Commenting on several press reports in the United States, a UK spokeswoman told us: ?It?s completely true. At the end of the year HP will stop making digital cameras.?

In a statement the company added: ?HP is currently working to identify an original equipment manufacturer (OEM) partner that would be licensed to design, source and distribute digital cameras under the HP brand.?

It continued: ?The digital camera business, which is experiencing slowing growth globally, remains intensely competitive.?

The statement suggests that the firm will shift resources into more profitable areas such as home photo printing and online photo services.