Digital camera shoots firm high

In the hope of being a winner in camera technology, Samsung Precision Industries Co. changed its corporate name to Samsung Techwin Co. in 2000. Three years later, the chief executive of Samsung Techwin, Lee Joong-koo, said that the company is planning to join the top five digital camera manufacturers in the world by 2005. “Samsung Techwin presented a four mega-pixel digital camera model last month, all with accumulated technology,” Mr. Lee noted. Currently, Japanese companies such as Canon Inc., Sony Corp. and Olympus Inc. lead the market. There are three to four non-Japanese digital camera makers, including Samsung Techwin. “In the late 1990s, Samsung Techwin used to be the top 35 millimeter camera maker in the global market with a 13 percent share. Sooner or later, the company is going to be the top digital camera maker, due to our know-how in manufacturing semiconductors, which the company has confidence in,” Mr. Lee said. “It took 14 months to develop the four mega-pixel digital camera and the amount of investment was six billion won ($4.1 million) and there seems to be no difference in technology between Japan and Korea,” The chief executive said the company attributed the success to a harsh reorganization and streamlining process during the last three years. The company posted net profits of 41 billion won, starting in 1999. Automatic precision equipment and machinery manufacturing businesses have disappeared along with the watch-making department. Currently there are 3,800 employees at the company, reduced from a staff of 8,000 in 2000. “Samsung Techwin will focus on the high value added industry, and the digital camera is the exact field that the company is seeking,” Mr. Lee said. However there is still a long way to go, the chief executive added. “The brand recognition of Samsung Techwin is relatively lower than those of Japanese firms.” by Kim Jong-yoon