Samsung has been one the popular players in the digital camera market. However, it has been some time since the company released any new product in the category. Samsung's last digital camera, the mirrorless NX500 was launched way back in March 2015. While this has been the case, it looks like the company has recently stopped producing and selling digital cameras.
On the other hand, Samsung is making such move due to the decline in digital camera market given that smartphone cameras have more or less taken over the photography game. Moreover, the cameras in smartphone these days are highly advanced. Thus, these change in trends and market conditions maybe pushing the Korean tech giant to focus their innovation on something different.
Citing an unnamed source, the Korea Herald has also reported that Samsung has lost its competitiveness in the entry segment with the robust growth of smartphone cameras. The source has stated that Japanese big names such as Canon and Nikon who have more than 100 years of history are also struggling in the premium market. As for Samsung, there was no option but to leave the market.
While the current digital camera market does seem vague, one of Samsung's official has also confirmed that the company is stopping its production and sales of digital cameras. With this statement, it is obvious that Samsung is making a departure from the waning market.
On the bright side, the official has revealed, "We will create a new camera product category to continue the business." Well, Samsung's new category could likely be cameras for smartphones and other mobile devices and the Gear 360 camera that the company has recently launched.