Sharp sold its mobile phone lens factory Kangda Zhi to Yonghui, retaining only a 1% stake.

CTOnews.com, Nov. 16 (Xinhua)-- Sharp announced on the 14th that it would sell most of its stake in Conda Zhi, its combined subsidiary that makes smartphone lenses, to Yonghui, an electronic components maker. The deal is scheduled to be completed on November 30, with undisclosed funds.

Kangda Zhi is engaged in the manufacturing and sales of smart phone lenses and other products, but its performance is depressed due to fierce competition. Yonghui has a strong sales channel in China, so Sharp believes that selling it to Yonghui is the best choice.

Sharp's stake will fall to about 1% after the sale, but sharp will also have a Kang Da Zhi lens on its smartphone products and will continue to work with Kang Da Zhi.

Sharp last month launched a mid-range AQUOS sense8 phone priced at 62150 yen (CTOnews.com Note: currently about 3033 yuan). This machine is equipped with Qualcomm Snapdragon 6 Gen 1 chipset. Compared with sense7 Snapdragon 695, the CPU speed is increased by 36% and 33%.