Sony weighs selling chip business behind wearables and smart devices

Sony Group is exploring a sale of its unit that provides cellular chipsets for connected devices, as the group shifts its focus to the entertainment segment, according to three people familiar with the matter.

The Japanese technology and entertainment conglomerate is working with investment bankers on the sale of Sony Semiconductor Israel, which is currently in the early stages, the sources said.

It generates about $80 million in annual recurring revenue and is expected to be valued at close to $300 million in any deal...