Sony To Spin Off TV Business

TOKYO, Jan 21 (News On Japan) - Sony has announced it will spin off its television business as competition in the global TV market continues to intensify, saying it has reached a basic agreement with major Chinese electronics maker TCL to begin talks toward a strategic partnership.

Under the plan, the two companies will establish a joint venture that will take over part of Sony’s business operations, including its television operations, and handle everything from product development to sales in an integrated manner.

TCL will hold a 51% stake in the new company, while Sony will hold 49%, meaning Sony will effectively separate its TV business. Even so, the companies said products will continue to carry the 'Sony' and 'Bravia' brand names.

The move comes as competition in the television industry grows tougher worldwide, with Sony aiming to strengthen its competitiveness by combining its high-definition image and audio technologies with TCL’s advanced display technology and cost competitiveness.

The two companies said they will proceed with discussions toward signing a formal agreement by around the end of March this year, and aim to begin operations in April 2027.

Source: TBS

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