TCL to acquire stake in Sony's TV business

Sony has officially agreed to sell a 51 percent stake in its TV business to TCL for approximately 75.4 billion yen (over $473 million). This creates a new joint venture, Bravia Inc., where Sony will retain a 49 percent ownership. The new subsidiary will encompass the research, development, design, manufacturing, and support for Sony's home entertainment products, including Bravia televisions, projectors, and audio systems. This strategic move allows Sony to leverage TCL's display technology expertise while continuing to influence the future of its renowned Bravia brand.