Sony to transfer TV business to joint venture with China’s TCL
Japanese electronics giant Sony Corp. said Tuesday (January 20) that it will transfer its television business to a joint venture to be set up with China's TCL Electronics Holdings Ltd.
The two companies signed a basic agreement on the deal the same day.
Sony, the core unit of Sony Group Corp., aims to bolster its TV business by combining its brand power and TCL's cost competitiveness. The brand names of "Bravia" and "Sony" will be maintained after the transfer.
Under the agreement, Sony's "home entertainment" business, which includes TVs and audio devices, will be carved out and transferred to the joint venture, in which Sony and TCL will have stakes of 49 per cent and 51 per cent, respectively.
The joint venture will handle all stages of the TV business, including development and design, production, sales and after-sales service. Operations are expected to begin in April 2027, pending approval by relevant authorities.
Sony's headphones and earphones will not be included in the latest move.
TCL offers a range of products, including display panels, TVs, mobile devices, and household appliances.
Sony Group has focused its resources on growth areas such as games, films and music.
It spun off its financial subsidiary, Sony Financial Group Inc., last year.
[Copyright The Jiji Press, Ltd.]
