In a strategic realignment, Samsung Electronics Co. Ltd. has merged with Samsung Digital Imaging Co. Ltd., an affiliated company which produces digital cameras and imaging technology. 

The merger, which was approved by shareholders on February 23, 2010 at Samsung Digital Imaging’s Annual General Meeting in Suwon, Korea, will enhance the digital camera unit’s competiveness by maximizing operational, brand and technological synergies with Samsung Electronics.   

“This union will advance our goal of becoming a global leader in the digital imaging market through the enhancement of synergies and competitiveness in all areas of our business. We want Samsung to be recognized as a leader in digital imaging, just as we are now acknowledged as an innovator and market leader in mobile handsets, TVs and other product areas,” said Sangjin Park, CEO of Samsung Digital Imaging.   

Samsung began developing film cameras in 1979 and has led the growth of the digital imaging market through its advanced technology and innovation. Samsung Digital Imaging was established as a standalone affiliate in February 2009, spinning off from Samsung Techwin Co., Ltd. Samsung Electronics announced the plan to absorb Samsung Digital Imaging in December 2009. The merger ratio of the two companies is Samsung Electronics: Samsung Digital Imaging = 1:0.0577663