Yesterday we brought you a report that Samsung was working on their own social network. This this service would be primarily designed to compete with Facebook, and was reportedly being called “Samsung Facebook” internally.

Now it seems that rumors of Samsung’s entrance into the social media market were greatly exaggerated. In a post on their Samsung Tomorrow blog, the company denied the awkwardly-codenamed social network’s existence, calling the rumors “groundless.” The company admitted that they are working on upgrades to the Family Story service that was introduced in February, “but this is far from a ‘Samsung Facebook.'”

So, if you’re a Samsung fan who was looking forward to a new Facebook alternative, then it looks like you’re out of luck. On the other hand, it’s probably just as well that Samsung stays out of the social media market. After all, hardware companies who try to jump into the social media arena don’t exactly have a good track record.