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Taiwan's Lite-On sells camera module business to Chinese peer

Latest example of business transfers to mainland players

Taiwan-based Lite-On Technology has decided to sell its camera module operations to a Chinese company.

HONG KONG -- Taiwanese electronic components supplier Lite-On Technology will sell its camera module business to a Chinese company for $360 million in a deal designed to strengthen ties between the companies.

Lite-On will transfer the business to LuxVisions Innovation, an affiliate of Luxshare ICT -- a supplier of wireless earbuds for U.S. tech giant Apple. The seller will also acquire a 10% stake in LuxVisions. The transaction should be completed as early as the second quarter of this year.

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