Cuts other product lines as a result.
Samsung is planning to target the mirrorless camera market and reduce its focus on the traditional point-and-shoot cameras. Samsung has outlined that it wishes to hold the largest market share in 2015 with more than 20% of the total. It currently holds approximately 5% of the total market share. In order to meet this goal, Samsung will reduce its offerings of “low-end compact cameras”.
Market research estimates that mirrorless camera sales will increase by 60 percent to 6.43 million units this year worldwide, according to figures from market research firm IDC. Its research also indicates that the DLSR market will grow 18% to 16.76 million units. Samsung has already begun the transition and is converting manufacturing lines to produce mirrorless cameras. Its 2012 lineup features mirrorless cameras boasting built-in WiFi, photo filters and social networking features.