Samsung rumored to be dropping out of the camera business

Sep 22, 2015

Liron Samuels

Liron Samuels is a wildlife and commercial photographer based in Israel. When he isn’t waking up at 4am to take photos of nature, he stays awake until 4am taking photos of the night skies or time lapses. You can see more of his work on his website or follow him on Facebook.

Samsung rumored to be dropping out of the camera business

Sep 22, 2015

Liron Samuels

Liron Samuels is a wildlife and commercial photographer based in Israel. When he isn’t waking up at 4am to take photos of nature, he stays awake until 4am taking photos of the night skies or time lapses. You can see more of his work on his website or follow him on Facebook.

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This next rumor is to be taken with a chunk of salt, but it’s a huge one if true.

Samsung’s cameras haven’t exactly taken over the camera market, and it’s said that management has decided to pull the plug on its digital camera business.

The South Korean company has not issued a statement regarding the matter as of this time, but Korean journal “Newstomato” reports that a decision to stop all development was made back in July already.

Without an official response one way or another, forums are filling up with “proof” that the electronic giant will or won’t shut down its camera division.

The Korean journal quotes a “camera industry insider” as its source and adds that Samsung has announced no new products or taken any marketing initiatives since the announcement of the NX500.

The article, though difficult to understand the Google-translated version of it, also states that the company has been losing money in recent years.

The Mirrorless Rumors admin says that he has “got similar rumors the past weeks but didn’t want to post them because that’s the kind of rumor that hurts company sales and needs to be triple checked before to be posted!”.

Photo Rumors points out that both the NX1 and NX500 are currently being sold for $200 and $150 off, respectively.

PR also quoted a post from 2010 where it wrote the following:

“In an interview with AP, Samsung’s vice president of camera business Jeong Wook Kim said that Samsung is “determined” to be #1 in the mirrorless camera market by 2012 and be “the best selling camera brand” by 2015”.

I think it’s safe to assume that Samsung has known for quite a while now that it won’t reach its ambitious goal from 2010 and has since adjusted its expectations, but such a quote definitely makes this rumor seem at least a bit more possible.

Arguing that it’s business as usual over at Samsung, some readers have pointed out that the NX series has been selling at discounted rates for a very long time, much earlier than July.

It has also been pointed out that Samsung is one of the sponsors of the Photoplus show that will be held in New York next month, and the countdown timer features a photo of an NX1 and a link to Samsung’s digital photography website.

The countdown timer on the Photoplus website
The countdown timer on the Photoplus website

Many companies miss their goals, fail to reach their targets and lose money. It’s important to remember that Samsung is a huge company, as is its electronics division, and losing money for a few years is not a big deal if it has its heart set on becoming a prominent player in the digital photography market.

Hopefully Samsung will issue a statement in the coming days letting its customers know what’s going on, but until then I’d say it’s too soon to assume we’ve seen the last of Samsung cameras.

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Liron Samuels

Liron Samuels

Liron Samuels is a wildlife and commercial photographer based in Israel. When he isn’t waking up at 4am to take photos of nature, he stays awake until 4am taking photos of the night skies or time lapses. You can see more of his work on his website or follow him on Facebook.

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8 responses to “Samsung rumored to be dropping out of the camera business”

  1. William Pead Avatar
    William Pead

    Samsung is doing so well with camera phones, perhaps that’s the direction they’ll take. But there is no business reporting website I can find that mentions any word of this rumor.

    1. andrei ioan Avatar
      andrei ioan

      “so well” was ironic? they have been losing money and their profits are decreasing every quarter in almost every business line…

  2. Petar Maksimovic Avatar
    Petar Maksimovic

    I never knew they entered…

  3. Вергунов Сергей Avatar
    Вергунов Сергей

    The prices in Canada never changed.

  4. canonboi Avatar
    canonboi

    traditional cameras are slowly dying breed

  5. Pavlos Pavlidis Avatar
    Pavlos Pavlidis

    Well of their prices drop, I’d happily take an nx mini for 49$

  6. Chris Cav Gibson Avatar
    Chris Cav Gibson

    Shame they never marketed it properly and pushed them out there. My NX1 is a brilliant camera unfortunately there is still too much camera snobbery with brands. Nikon and Canon simply have the market saturated making it difficult for any new players. Sony managed it just but they brought out Minolta who already had an established market position.
    The sad thing is my NX1 out performs both Nikon and Canon in the same price range but will never be promoted by any retailers. .