Asia Optical, a Taiwan-based digital camera equipment maker, announced on March 23 that the company will establish a JV with Singapore-based Flextronics for contract manufacturing of digital cameras, leveraging both parties' proprietary technologies, Dow Jones reported. The JV is valued at US$5 million. The JV, to be based in Hong Kong, is expected to develop cameras in Japan and Taiwan and mass produce them in China. Asia Optical holds 80% in the JV, while the remaining 20% goes to Flextronics, according to the same source. Flextronics is yet to comment on the collaboration though.