Sony plans to spin off its TV hardware business to a new joint venture controlled by Chinese electronics giant TCL, the two said Tuesday, a significant retreat for the Japanese giant whose Bravia line has long occupied the premium end of the television market. TCL would hold a 51% stake in the venture and Sony would retain 49% under a nonbinding agreement the two companies signed. They aim to finalize binding terms by the end of March and begin operations in April 2027, pending regulatory approvals.
The new company would retain the Sony and Bravia branding for televisions and home audio equipment but use TCL's display technology. Japanese TV manufacturers have steadily lost ground to Chinese and Korean rivals over the years. Toshiba, Hitachi, Mitsubishi Electric and Pioneer exited the business entirely. Panasonic and Sharp de-emphasized televisions in their growth strategies. Sony's Bravia line survived by positioning itself at the premium tier where consumers pay more for high-end picture and sound quality.
The new company would retain the Sony and Bravia branding for televisions and home audio equipment but use TCL's display technology. Japanese TV manufacturers have steadily lost ground to Chinese and Korean rivals over the years. Toshiba, Hitachi, Mitsubishi Electric and Pioneer exited the business entirely. Panasonic and Sharp de-emphasized televisions in their growth strategies. Sony's Bravia line survived by positioning itself at the premium tier where consumers pay more for high-end picture and sound quality.
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