Sony and TCL Electronics have confirmed they are moving forward with discussions for a partnership between the two companies.
In a statement released today, it was confirmed that they would be taking the next steps for a “strategic partnership in the home entertainment field", in the form of signing a memorandum of understanding.
As outlined in the document, a global joint venture will be established, assuming Sony's home entertainment business, and with TCL holding 51% and Sony holding 49% of its shares, respectively.
It will cover everything from product development to manufacturing and customer service, with definitive binding agreements expected by the end of March, and operations underway by April 2027.
The deal will look to utilise TCL's technology and cost efficiency with Sony's brand name and operational knowledge.
“We are pleased to have reached this agreement with TCL for a strategic partnership," said Kimio Maki, Sony President and CEO.
"By combining both companies' expertise, we aim to create new customer value in the home entertainment field, delivering even more captivating audio and visual experiences to customers worldwide,”
