Sony signs definitive agreement with TCL for Bravia TVs | Infinium-tech
In January, Sony and TCL announced their intention to form a joint venture in TV and home audio equipment, in which TCL would hold a 51% stake. Today both the companies have signed a definitive agreement for this strategic partnership.
Under this legally binding agreement, Sony will establish a wholly owned subsidiary to handle its home entertainment business, and TCL will subscribe a portion of the shares of this company, with TCL holding 51% and Sony holding 49%.
The new company will succeed Sony’s home entertainment business, which includes product development and design, manufacturing, sales and logistics, and customer service for home theater systems and audio components such as Bravia TVs, business-to-business flat panel displays and LED displays, projectors and home audio equipment. The new company will operate this integrated business globally.
TCL will pay Sony JPY75.4 billion (about $474 million) at current prices, but the final amount will be determined after adjusting for certain net debt and working capital when the deal closes. The new company should commence operations in April 2027, after receiving relevant regulatory approvals. The new company’s products will use the Sony and BRAVIA names.
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