LAS VEGAS, NV -- 02/01/08 --
Samsung today formally announced plans to
integrate the digital still camera business of Samsung Opto-Electronics
America (SOA), Inc. with Samsung Electronics America's (SEA) consumer
electronics business in March of 2008. The move is designed to leverage
existing synergies between the two business units, create new competitive
advantages and ultimately enhance the company's overall brand positioning.
The integration announced today is the most recent in a series of
initiatives that have fueled Samsung's progress toward becoming one of the
world's leading digital imaging companies.
"Bringing the digital still camera business into the fold of our broader
consumer electronics operations is the next logical step in the evolution
of our digital imaging business," said Tim Baxter, executive vice president
of sales and marketing at Samsung Electronics America. "Both groups bring
inherent strengths and relationships to the table that will allow us to
elevate our presence and offer a more comprehensive suite of digital
lifestyle solutions to retailers and consumers."
Samsung has established some very aggressive goals for the digital imaging
business, targeting a number three position among the world's top
manufacturers by 2010. According to company officials, the integration
plans announced today will enable the digital camera business to leverage
SEA's existing relationships and strengths in the consumer electronics
retail channel to help fuel its future growth. Similarly, the new
relationship will enable the camcorder division of SEA to strengthen its
presence in the photo specialty channel. SOA has devoted considerable
resources and significantly elevated its position in the photo specialty
market since the introduction of its flagship NV Series of high end compact
cameras and its GX Series of DSLRs. In addition to the natural synergy
created by joining the camera and camcorder businesses, Samsung's #1
position in HDTVs provides a strong foundation to grow awareness and sales
of HD imaging products and solutions.
Samsung's camera business has realized impressive growth in recent years,
increasing both sales and market share. The integration with SEA will
bring an infusion of resources in R&D, design, sales and marketing that
will drive continued growth and success in the years to come.
"We believe this move represents a true win / win scenario," said Tony
Sorice, vice president of national accounts for Samsung Opto-Electronics
America, Inc. "The benefits of this integration are already evident in
products like the NV24HD and the HMX20, both of which allow consumers to
get the most out of the HD experience and leverage our position as a world
leader in HD technology. Moving forward, we will continue to broaden and
deepen our product lines and enhance our position in the digital imaging
space."
Samsung Opto-Electronics America, Inc., Ridgefield Park, N.J., is the U.S.
subsidiary of Samsung Techwin Co., Ltd., Sungnam Kyungki-Do, Korea.
Samsung Opto-Electronics markets a full line of auto focus cameras, zoom
and digital cameras for the amateur as well as the professional under the
Samsung brand name.
For full specifications and hi-res images, visit www.samsungcameraUSA.com
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