Taiwanese electronic component supplier Lite-On announced on February 28 that the company has sold its CCM (Cell-phone Camera Module) Division to LuxVisions Innovation, an affiliate of Luxshare, for USD 360 million with an aim to strengthen the tie between two parties, the United Daily News reported on March 1. Luxshare is known as the supplier of wireless earbuds for Apple. Pursuant to the agreement, Lite-On can acquire 10% stake in Luxvisions while LuxVisions will obtain business operations, inventories, equipment, teams, technologies, and intellectual property rights of Lite-On's CCM Division. The transaction is likely to be completed as early as the second quarter of 2018. Most of Lite-On's CCMs have been embraced in mobile phones, tablets, and notebook PCs with customers over Asia, Europe, and America.