14 DAY TRIAL // While recent statistics state that Panasonic is slowly recovering after years of financial crisis, it seems that the Japanese electronics maker has other plans regarding its imaging sensor business.
According to a recent press release, Panasonic has sold 51% of its imaging sensor business to global specialty foundry leader TowerJazz, creating a joint venture to manufacture Panasonic's products.
Following this press release, the existing Panasonic factories in Japan will continue to manufacture semiconductors, including 12-inch advanced wafer fab with 65 and 45nm technology, as well as expanding their current operations to accommodate new products and technologies from new customers.
The partnership between TowerJazz and Panasonic will last at least five years, and with this move TowerJazz acquires 51% of the total shares of this joint venture.
How this will affect the future of Panasonic's digital camera business remains to be seen, but, for the moment, this decision comes as a surprise for many company supporters.