▶️ In January, Sony and TCL announced their intention to create a joint venture for the production of televisions and home audio equipment, in which TCL would hold a controlling stake of 51%. Today, both companies signed a final agreement on this strategic partnership.

▶️ Under this legally binding agreement, Sony will establish a wholly owned subsidiary to transfer its home entertainment product business to it, and TCL will acquire a portion of the shares of this company, with TCL holding 51% and Sony 49% of the shares.

▶️ The new company will replace Sony's home entertainment product division, including product development and design, manufacturing, sales and logistics, as well as customer service for Bravia TVs, flat and LED displays for business, projectors, and home audio equipment such as home theater systems and audio components. The new company will manage this integrated business on a global level.

▶️ TCL will pay Sony 75.4 billion yen (approximately $474 million USD) at current prices, but the final amount will be determined after adjustments for net debt and working capital upon completion of the transaction. The new company is expected to start operations in April 2027 after obtaining relevant regulatory approvals. The products of the new company will be released under the Sony and Bravia brands.

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