Sony Spins Off Image Sensor Business as a New Company

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While Sony Corp.’s smartphone business is floundering, the division that produces image sensors used in digital cameras for other phone-makers is enjoying double-digit growth. So the Japan-based company announced today that it is spinning off its semiconductor business — which includes the production of image sensors — as part of a strategy to boost profitability and become more competitive in that market.  The new business, Sony Semiconductor Solutions, is set to begin operating on April 1, 2016. The company is also revamping other organizations in its devices segment to promote growth in the battery and storage media markets.  Sony said the changes are aimed at enabling its semiconductor, battery and storage media businesses to “more rapidly adapt to their respective changing market environments and generate sustained growth.” In two separate announcements earlier this year, the company also said it would invest $1.25 billion in its factories to increase image-sensor production capacity.

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