Samsung Techwin to spin-out camera division

Samsung Techwin, the Korean manufacturer, plans to separate out its camera division into an individual entity (under the same ownership), according to news agency Reuters. Samsung Techwin is part of the Samsung Group’s machinery and heavy industry division and makes mobile artillery and gas turbines, as well as digital cameras. Tentatively named Samsung Digital Imaging, the new company will have a separate listing from Feb. 1, 2009, allowing its management to concentrate on the fast-moving consumer market into which its products are sold, without also having to also consider sales of aircraft engines.