Sony’s chip unit and TSMC signed a binding deal to form a JV dedicated to the development and manufacture of image sensors for smartphones, an entity set to be given JPY747 billion ($4.7 billion) in cash and assets. Subscribe to our newsletter Get breaking news, exclusive insight, and expert analysis - before anyone else. TSMC brings “advanced process technology and manufacturing expertise” which is expected to “drive development and manufacturing activities required for the volume production”.