As per the recent report Samsung is ditching its entire digital camera division

As per the recent report, Samsung is ditching its entire digital camera division

Samsung may be primarily known for its mobile devices, but the company is responsible for a huge range of products. The likes of its TV, semiconductor, and OLED manufacturing arms are helping it to record profits, but there’s one category of devices that isn’t performing too well for the Korean firm: cameras.

Samsung has found success in virtually all areas of its business, but rumors that it may exit the quickly diminishing digital camera sector have been around for some time. There haven’t been any new products in the range since the NX500 back in 2015. And the writing was on the wall when it pulled out of the UK camera market later that year due to a “gradual and sustained decline in demand for standalone digital cameras and camcorders.”

Reports that Samsung is now completely abandoning its camera range comes from South Korea site The Investor. Citing an anonymous company insider, it claims the process has already begun. “We no longer produce and sell digital cameras. But we will create a new camera product category to continue the business,” said the unnamed executive.

Despite the comments, Samsung has yet to issue an official statement on its future in the camera market.

This is far from the first time the manufacturer has been tipped to be readying an exit from the dedicated camera space, with 2016 lacking major announcements yet filled with rumors of a closing to that part of the business.

Despite failing to establish itself alongside the likes of Canon and Nikon, Samsung’s handsets feature some of the best smartphone snappers around, with last year’s Samsung Galaxy S7 something of a low-light specialist.

The insider’s comments of a ‘new camera product category’ aren’t believed to be about the company’s smartphones, however.

Instead, it’s understood to be in reference to the firm’s new VR-friendly 360-degree cameras.