Toshiba, a Japanese multination corporation, is planning to sell its image sensor business to Sony for around $164.68 Million as pivotal part of corporate restructuring, sources familiar with the deal said on Saturday.
From Sony’s perspective, the deal will help the Sony to protrude its image sensor business to an extent as the company is already considered as a leading supplier of CMOS image sensors.
While Toshiba, whose businesses range from electronics to logistics, is undergoing a corporate accounting stricture after revelations this year that it overstated earnings by $1.3 billion going back to fiscal 2008-09.
As the scenario is pretty nostalgic for Toshiba, after the resignation of CEO Hisao Tanaka, Chairman and interim chief executive Masashi Muromachi laid out restructuring plan earlier this year for the betterment of the company. Following this, the image sensor sale would be one of the initial moves in that process.
On the other side, Sony’s smartphone business hasn’t been doing well, but the company is doing pretty well in the field of smartphone camera market. And the company expanded its image sensor plants in Nagasaki and Yamagata, this year. Albeit, the customers like China’s Xiaomi and India’s Micromax, have turned Sony’s sensor business into success. The acquisition of Toshiba’s Image sensor division would establish Sony in an even sturdier position again competitors like Samsung.