It seems that Samsung’s success with smartphones or displays isn’t as good on every business segment. The Korean giant will make its way out of the digital camera market as sales decrease and the market itself isn’t going in the right direction.
Samsung has recently stopped producing and selling digital cameras, hinting at the Korean tech giant’s departure from the waning market, said industry sources, cited by local media.
“We no longer produce and sell digital cameras,” said a Samsung official on condition of anonymity. “But we will create a new camera product category to continue the business.”
The new category may include cameras for smartphones and other mobile devices and the Gear 360 camera that captures high-resolution images and videos in 360-degrees.
One of the most important reasons for this drastic decision are that the tech giant lost its competitiveness in the entry segment due to tough competition from smartphones. I guess if one business must to go well, another must fail. Samsung is both winner and loser in this situation.