Toshiba Corp is set to sell its image sensor business to Sony Corp for around 20 billion yen ($164.68 million) as part of a restructuring plan laid out earlier this year, sources with knowledge of the deal said on Saturday.
Toshiba, whose businesses range from laptops to nuclear power, is undergoing a restructuring after revelations this year that it overstated earnings by $1.3 billion going back to fiscal 2008/09.
Image sensors, which are used in digital cameras and smartphones, are part of Toshiba's system LSI semiconductor business. Toshiba plans to sell its image sensor manufacturing plant in Oita, southern Japan, and pull out of the sensor business altogether, said the sources, who declined to be identified.
Photo Credit // REUTERS/YUYA SHINO