Toshiba to sell sensor business to Sony for $165 million
Toshiba is finalizing plans to sell its image sensor business to Sony for an estimated $165 million (¥20 billion) in a bid to raise cash after a $1.3 billion accounting scandal. Toshiba, who manufactured sensors for the Nikon D5200 and D7100, among others, has been unloading assets (such as medical devices and elevators) as part of its restructuring plan.
Sony currently has 40% of the growing image sensor market, and is quadrupling spending to keep up with demand for both smartphones and digital cameras.
According to the Japan Times, some of Toshiba's 2600 employees will be transferred to Sony, while others will be moved to other Toshiba factories. Layoffs are also a possiblilty.