Sony to pour billions into its camera business for Apple, Samsung and others
Sony is looking to pour billions into its smartphone camera business as it looks to increase production and development of modules for customers like Apple, Samsung, and others. The company’s camera business is already a success, but its production capacity is limited.
The smartphone business in general is pretty tough on Sony. It has struggled to compete despite a series of decent devices — not unlike HTC — while competitors continue to thrive with the help of its high-end camera components.
To ensure that camera business remains successful and stays ahead of the competition, Sony is now planning to pump billion into it. The Japanese firm is said to be looking to raise around $3.6 billion by selling new shares and convertible bonds.
The investment will enable Sony to increase production capacity and take on more orders. The company will no doubt product cameras for Apple’s upcoming iPhone 6s and iPhone 6s Plus, and for future Samsung devices like the Galaxy Note 5.
Sony Chief Financial Officer Kenichiro Yoshida first revealed back in April that the company was planning to invest ¥210 billion ($1.71 billion) in imaging sensors during the current fiscal year, and ¥80 billion ($650 million) on camera modules.
Sony will also focus on gaming, movies, and other business in which it is successful and likely scale back — if not sell off altogether — its smartphone business.
- SourceWall Street Journal