Samsung Electronics Absorbs Camera Division
By Greg Scoblete -- TWICE, 2/1/2008
Las Vegas — Samsung Consumer Electronics Group has taken over responsibility for digital still cameras from Samsung Opto-Electronics, the company announced at press conference at PMA.
The move is meant to embed digital cameras within the range of Samsung electronics, including camcorders and flat-panel TVs, “leveraging the synergies” of a combined R&D and brand marketing budget, said Reid Sullivan, marketing VP.
Staff from the Secaucus, N.J.-based Opto-Imaging group have already been relocated into the Consumer Electronics division’s Ridgefield Park, N.J., headquarters. The move will be completed by March, Sullivan said. “This is not a consolidation,” he added.
Samsung has sketched out ambitious goals for itself in the digital still camera market. “We are firmly committed to reaching the top three in worldwide digital camera market share by 2010,” Sullivan said.
Bringing the camera business into the consumer electronics fold is meant to improve Samsung’s overall execution, allowing the company to speak with “one voice” to its dealers, Sullivan said. “We’re committed to making imaging a core pillar of our business.”
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