TEL AVIV Aug 28 Israeli chip manufacturer TowerJazz announced on Thursday the first major image sensor customer for its joint venture with Panasonic Corp in Japan.
Himax Imaging Inc, a subsidiary of Himax Technologies , is developing its newest high-end cameras for smart phones using TowerJazz Panasonic Semiconductor technology.
The companies did not disclose financial details. But an industry source in Tel Aviv said the deal would bring in $20 million a year in revenue for the joint venture.
TowerJazz Panasonic Semiconductor Co is 51 percent owned by TowerJazz and 49 percent by Panasonic. It has three manufacturing plants in Japan. (Reporting by Tova Cohen, Editing by Ari Rabinovitch)