OmniVision Trading Down Today - Is Sony To Blame? (OVTI, SNE)

OmniVision Technologies, Inc. (NASDAQ: OVTI) is down 1.51% today, trading at $29.30 per share.

This development follows an announcement by Sony Corporation (NYSE: SNE), which said that it plans to double its production capacity for image sensors with a $1.2 billion investment. Sony will buy back a factory from Toshiba that makes chips used in PlayStation 3 consoles, and use that space to build image sensors for digital cameras and smartphones.

Sony currently holds somewhere around 10% of the market for image sensors used in mobile phones. The company's goal is to triple its market share, commanding 30% of the market.