Sharp in Japan is selling its smartphone camera module business to its parent company, Taiwan's Foxconn (Hon Hai Precision Industry).
According to the industry on the 6th, Sharp sold 51% of its subsidiary's equity in Saigonstek to Foxconn's subsidiary, Fullerton, on the Tokyo Stock Exchange. Saigonstek, located in Vietnam, is Sharp's camera module outsourcing company. The sale price amounts to 2.5 billion yen (approximately 237 million won), and the company plans to complete the sale process by September.
Earlier, Sharp also transferred its second factory at the Kameyama plant in Mie Prefecture, which produces liquid crystal display (LCD) panels, to Foxconn.
In September, Sharp plans to sell its semiconductor business to Foxconn as well. The subsidiary targeted is Sharp Fukuyama Laser, and an agreement to transfer it to Hon Hai was reached last April.